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ATR - Astron News Story

A$0.415 0.0  3.8%

Last Trade - 17/09/21

Sector
Basic Materials
Size
Micro Cap
Market Cap £26.9m
Enterprise Value £32.2m
Revenue £6.68m
Position in Universe 1168th / 1948

BUZZ-Australia's Astron slumps on proposed demerger of China-based business

Fri 2nd July, 2021 4:48am
** Shares of Astron Ltd  ATR.AX  fall as much as 7.3% to
A$0.510, their worst day since May 19
    ** The mineral sands mining & production firm announces
proposed disposal of its China-based downstream mineral
processing operations by means of a demerger  urn:newsml:reuters.com:*:nFWN2OD139
    ** The China-based operations comprise the Yingkou rutile
and titanium dioxide raw materials separation and processing
facility, titanium preparation and micro-agglomeration plant as
well as sales and marketing operations
    ** Co proposes to demerge the business into a separate
(non-listed) entity called Astron Titanium (Yingkou) Hong Kong
Holding Ltd, a Hong Kong domiciled unit of co
    ** Stock hits lowest since May 25
    ** Stock has more than doubled so far this year, as of last
close 
    


 (Reporting by Riya Sharma in Bengaluru)
 ((Riya.Sharma@thomsonreuters.com;))
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