Australia's AVJennings surges on providing due diligence to Ho Bee Land for takeover offer

Avjennings

17/01/2025 04:51

** Shares of AVJennings  AVJ.AX  rise 1.4% to A$0.72, their
highest level since Feb. 2008
    ** Stock rises nearly over 12% this week, heading for its
best weekly gain since Nov 25
    ** Property developer intends to provide due diligence
access to Ho Bee Land, subject to the parties entering into
confidentiality arrangements
    ** Co received a higher takeover offer from Ho Bee Land
 HBEE.SI  on Wednesday after a getting a buyout bid from
Proprium Capital Partners (Australia) and AVID Property in late
Nov
    ** Stock rose as much as 2.1% earlier in the day
    ** 1.5 mln shares change hands, 1.5 times the 30-day average
of 984,540
    ** Stock more than doubled in 2024


($1 = 1.6106 Australian dollars)

 (Reporting by Manasi Dasa Sundeep in Bengaluru)
 ((Manasi.DasaSundeep@thomsonreuters.com;))