New Zealand's Comvita hits over 3-month high on acquiring honey retailer

Comvita

04/07/2023 24:39

** Shares of New Zealand-based natural health products maker
Comvita Ltd  CVT.NZ  rise 6.3% to NZ$3.23, hitting its highest
level since March 28
    ** Co acquires honey retailer HoneyWorld Singapore and its
consumer brands 
    ** Deal values HoneyWorld at S$8.5 million ($6.29 million)
and would be funded via debt - CVT
    ** Adds that HoneyWorld expects revenue of over $13 mln in
FY24
    ** Stock on track to record best day since May 2 if gains
hold
    ** More than 40,000 shares change hands, compared with the
30-day average volume of about 22,000 shares
    ** Stock has remained flat since start of the year


($1 = 1.3506 Singapore dollars)

 (Reporting by Jaskiran Singh in Bengaluru)
 ((Jaskiran.Singh@thomsonreuters.com;))