Australia's eCargo Holdings rises most in near 3 months on JV plans

eCargo Holdings

18/09/2019 02:28

** Shares of eCargo Holdings Ltd  ECG.AX  jump as much as
15.2% to A$0.053; mark their biggest intraday pct gain since
June 19
    ** The e-commerce enabling platform launches ABG Group, a
joint venture for distribution of fast-moving consumer goods
(FMCG) in Vietnam and Cambodia  urn:newsml:reuters.com:*:nASX1pTLpC
    ** The JV is in partnership with Vietnamese and Australian
distributors OZ Golden Care and AusCom International 
    ** Co says ABG Group has agreed to distribute its first
order of products in Vietnam and Cambodia, with a value of A$1.3
mln ($891,150) to be delivered in Sept
    ** Stock down 58.2% this year, as of last close
    
($1 = 1.4588 Australian dollars)

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