ASX-listed eCargo Holdings at near 3-month high on divestment

eCargo Holdings

12/08/2022 05:25

** ASX-listed shares of eCargo Holdings Ltd  ECG.AX  jump as
much as 13.3% to A$0.017, touch their highest since May 19
    ** The outsourcing services provider says it has divested
its digital commerce consultancy unit Amblique Pty Ltd in a
management buyout for cash consideration of $5 million
 urn:newsml:reuters.com:*:nASX3qG7sd
    ** Adds that the group intends to use the sale proceeds to
acquire equity position in Australian brands with high potential
to scale in Asia, among others
    ** Stock on track for its third straight session of gains 
    ** Stock has fallen 54.6% this year, as of last close

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