Australia's Carbon Revolution sees best day in seven months on new loan

Carbon Revolution

24/05/2023 03:45

** Shares of Carbon Revolution  CBR.AX  soar as much as 84%
to A$0.230, seeing their best day in almost seven months - if
gains hold 
    ** The carbon fibre wheels maker says it has secured a new
debt programme worth $60 million, arranged by U.S.-based PIUS
Limited LLC  urn:newsml:reuters.com:*:nFWN37K1B7
    ** Says that new loan will help contribute to new funding
for capacity expansion and further Mega-line automation
    ** Shares hit highest since Nov 30, 2022
    ** Stock has fallen ~26.5% this year, as of last close

 (Reporting by Archishma Iyer)
 ((Archishma.Iyer@thomsonreuters.com;))