Australia's AVADA eyes best week since listing on Regal Funds Management exit

Australian Strategic Materials

22/03/2024 01:16

** Shares of AVADA Group  AVD.AX  have risen 38% so far this
week - set for best weekly gain since their listing in Dec.
2021, if trend holds
    ** Traffic management firm said on Wednesday its
second-largest shareholder Regal Funds Management had sold its
stake in co
    ** Stake sale was carried at an issue price of A$0.65 per
share, according to the AFR report, representing a 31.3% premium
to the stock's last close on Tuesday
    ** Stock currently up 8.7% to A$0.69, its highest level
since Aug. 31, 2023
    ** Stock up 30.2% YTD as of last close

 (Reporting by Ayushman Ojha in Bengaluru)
 ((Ayushman.ojha@thomsonreuters.com;))