Australia's CCP Technologies hits near 2-yr high; to establish operations in China

Constellation Technologies

11/12/2019 24:42

** Shares of CCP Technologies  CT1.AX  surge as much as
33.3% to A$0.02 — the highest since Jan 29, 2018
    ** The IoT technology solution provider secures two major
strategic partners to fund and grow its business; to establish a
wholly-owned China operation with their support  urn:newsml:reuters.com:*:nFWN28K0W1
    ** Also announces placement to raise about A$1.7 million to
support growth initiatives, particularly in the Asian market
    ** Stock posts its biggest intraday gain since May 21
    ** Over 12.9 mln shares change hands, more than thrice the
30-day average volume of 4.2 mln shares
    ** Stock is up 52% this year, as of last close

 (Reporting by Shruti Sonal in Bengaluru)
 ((Shruti.Sonal@thomsonreuters.com;))