Australia's Amaero jumps on signing JV agreement with Middle East based co

Amaero

12/12/2022 01:16

** Shares of Australia's Amaero International Ltd  3DA.AX 
rise as much as 15.9% to A$0.080 - marking best day since
Sept.30, if gains hold
    ** Manufacturing services provider announces signing of a
joint venture agreement with Rabdan Industries PLC, an affiliate
of Ethmar Holdings
    ** Says JV for additive manufacturing and powder production
in Abu Dhabi  
    ** Adds initial project under consideration by the JV has a
capital budget of A$300 mln ($202.89 mln)
    ** Amaero shares hit highest since Nov.28  
    ** Stock has fallen 77.4% this year as of last close
($1 = 1.4786 Australian dollars)
 (Reporting by Nausheen Thusoo in Bengaluru)
 ((Nausheen.Thusoo@thomsonreuters.com;))