Australia's Fatfish Blockchain sees best day in 2 years; accepts offer for subsidiary

Abelco Investment AB

15/11/2019 01:28

** Shares of Fatfish Blockchain Ltd  FFG.AX  surge as much
as 60% to A$0.016, their biggest intraday percentage gain since
Nov. 2017
    ** Technology investor accepts A$12.7 mln ($8.71 mln) offer
for its Swedish unit from venture investment co Abelco
Investment Group AB  ABIGR.NGM   urn:newsml:reuters.com:*:nGLF10RT0X
    ** Under offer, co to dispose 81% stake in unit Fatfish
Global Ventures AB (FGV) to Abelco in return for 50.1% of the
enlarged share capital of Abelco
    ** FFG to retain its existing blockchain portfolio 
    ** Stock hits its highest level since July 11
    ** About 40.3 mln shares change hands, about 31 times the
30-day average volume of 1.3 mln shares; trades at highest
volumes since Jan 2018
    ** Stock down 37.5% this year, as of last close


($1 = 1.4588 Australian dollars)

 (Reporting by R.R.Deepti Sri in Bengaluru)
 ((deepti.sri@thomsonreuters.com))