Australia's Adacel Technologies falls most in 6 yrs on plan to delist

Adacel Technologies

23/10/2024 05:19

** Shares of Adacel Technologies  ADA.AX  fall as much as
36.2% to A$0.300, posting their biggest intraday percentage
decline since Nov. 9, 2018
    ** Stock hits its lowest level since March 24, 2020
    ** Air traffic management solutions provider says it has
received approval from the exchange to delist its shares from
trading, subject to shareholder approval
    ** Says trading in its shares has been "relatively
illiquid", and current share price undervalues co
    ** About 1 mln shares change hands, compared with the 30-day
average volume of around 21,000
    ** Stock down 64.7% YTD, including session's move



 (Reporting by Aaditya Govind Rao in Bengaluru)
 ((Aaditya.govindrao@thomsonreuters.com;))