NZ's Channel Infrastructure hits 4-1/2-yr high on biorefinery agreement

Channel Infrastructure NZ

01/10/2024 02:33

** Shares of Channel Infrastructure  CHI.NZ  rise as much as
8.8% to NZ$1.850, their highest levels since Jan 6, 2020
    ** Stock set for best day since early July, 2021, if current
trends hold
    ** The refined fuel importer and distributor entered into a
conditional project development agreement with Seadra Energy
Inc, with other consortium members
    ** Co says agreement to develop a biorefinery at its Marsden
Point site
    ** Around 1.5 mln shares change hands, 2.2x the 30-day
average volume of 672,806 shares
    ** Stock up 18.5% YTD, as of last close

 (Reporting by Shivangi Lahiri in Bengaluru)
 ((shivangi.lahiri@thomsonreuters.com))