Bioxyne hits highest since Jan on deal with Singapore PE group

BLS Pharmaceuticals

24/10/2022 01:41

** Shares of Australia's Bioxyne  BXN.AX  rise as much as
16% to A$0.029, their highest since Jan. 4
    ** The health and wellness products co enters into an
agreement to jointly grow its Asian Direct Selling Business by
selling a 49% interest in its Direct Selling group of companies
for A$1 million ($636,400) urn:newsml:reuters.com:*:nASX8XLr4W
    ** Says deal is a strategic sale to a Singapore-based
private equity group, Paramount Star Investments Limited, to
help accelerate development of the direct selling business
    ** Co also announces share placement of 25 million shares at
an issue price of A$0.04 per share
    ** Stock posts its biggest intraday pct gain since Sept. 27
    ** Stock has fallen 13.8% this year, as of last close
($1 = 1.5713 Australian dollars)
 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))