Australia's CAQ Holdings set for best day in over 4 years on JV deal

CAQ Holdings

30/05/2019 05:09

** Shares of CAQ Holdings Ltd  CAQ.AX  surge as much as
75%to A$0.035, their best intraday pct in over 4 years
    ** Stock of property development co hits highest in near 8
weeks
    ** CAQ executes JV deal with diversified leisure and
industry group, Mission Hills, to jointly develop a crossborder
e-commerce business in China  urn:newsml:reuters.com:*:nASX7vTY7D
    ** Establishment funding for JV from equity contribution by
each partner of about A$1.05 mln ($727,335.00) with a further
A$4.2 mln in working capital through a letter of credit with
Chinese banks and A$4.2 mln from contractor renovation advance
    ** Over 148,749 shares change hands, compared with 30-day
average volume of 11,773
    ** Stock has slumped 47.4% this year as of last close


($1 = 1.4436 Australian dollars)

 ((Reuters Messaging:
Devika.Syamnath.thomsonreuters.com@reuters.net))