Australia's Dynamic Group gains most in 7 weeks on acquiring Airwell Flow Testing

BWE Drilling

17/01/2024 01:56

** Shares of Dynamic Group Holdings  DDB.AX  rise as much as
5% to A$0.21, marking their biggest intraday pct gain since Nov.
28, 2023
    ** Stock hits its highest level since Jan. 8
    ** Drilling services provider says it entered into binding
agreement to acquire Airwell Flow Testing
    ** Airwell Flow Testing is a division of Australian water &
total fluids pumping co Airwell Group Pty Ltd - DDB
    ** DDB says Airwell Flow Testing provides additional
water-related services capabilities with lower capital intensity
    ** Total cash consideration payable to Airwell Group is A$2
mln ($1.32 mln) - DDB
    ** DDB stock fell 25.9% in 2023

($1 = 1.5179 Australian dollars)

 (Reporting by Roshan Thomas in Bengaluru)
 ((Roshan.Thomas@thomsonreuters.com))