New Zealand's Comvita rises on $33 million acquisition agreement

Comvita

18/08/2025 24:33

** Shares of honey supplier Comvita Ltd CVT.NZ soars 63% to NZ$0.78, posting their biggest intraday gain

** CVT shares at their highest point since March 6

** Stock is top gainer in the NZX 50 benchmark index .NZ50, which is up 0.2%, as of 2247 GMT

** CVT says it signed agreement with natural health and wellness business Florenz Limited

** Agreement for Florenz to buy CVT's shares for NZ$0.80 per share, a 66.67% premium to CVT's last close

** Offer represents equity value of NZ$56 million ($33.19 million)

** CVT board recommends shareholders vote for the deal; its top two shareholders support the deal

** CVT shares down 5% YTD, including the session's moves

($1 = 1.6872 New Zealand dollars)

 (Reporting by Sameer Manekar in Bengaluru)

 ((Sameer.Manekar@thomsonreuters.com;))