Australia's Athena Resources rises on receiving buyout bid

Athena Resources

26/03/2024 03:31

** Shares of Athena Resources  AHN.AX  rise as much as 33.3%
to A$0.004, their highest since March 11 
    ** Mineral explorer says it has received a letter from
Entertainment Holdings to make a conditional, proportional
off-market offer 
    ** Proposal to acquire 2 out of every 10 shares in co that
it does not already hold for A$0.003 per share
    ** Stock posts its biggest intraday percentage gain since
March 11
    ** About 5.1 mln shares change hands, 3.5x the 30-day avg
volume
    ** Stock down 25% YTD, as of last close

 (Reporting by Neha Soni in Bengaluru)
 ((Neha.Soni@thomsonreuters.com))