New Zealand's Cavalier Corp loses most in over a month; to sell wool scouring business

Bremworth

27/09/2018 03:26

** Shares of Cavalier Corp  CAV.NZ  fall as much as 4.6 pct
to NZ$0.630, their biggest intra-day percentage fall since Aug.
17 
    ** The carpet manufacturer says it is in talks to sell its
27.5 pct shareholding in Cavalier Wool Holdings for NZ$13.5 mln
($8.97 mln) to focus on core carpet business  urn:newsml:reuters.com:*:nNZW7ntpN4
    ** Cavalier Wool Holdings has wool scouring ops based in
Napier and Timaru
    ** Up to last close, stock had risen about 61 pct this year
compared with a 11.3 pct increase in the benchmark S&P/NZ50
index  .NZ50 
    


($1 = 1.5047 New Zealand dollars)

 (Reuters Messaging:
abyjose.koilparambil.thomsonreuters.com@reuters.net)