Australia's Ecofibre eyes best day in over 9 months on sale of US properties

Ecofibre

13/05/2024 04:04

** Shares of Ecofibre  EOF.AX  rise as much as 16.7% to
A$0.063
    ** Stock track for best day since July 31, 2023, if gains
hold
    ** Co's unit enters conditional agreement to sell and lease
back two properties in North Carolina, U.S. as part of co's plan
to reduce debt and financing risk across group 
    ** Says, properties used in the manufacturing operations of
a different unit, Ecofibre Advanced Technologies 
    ** In a separate statement, co says John Foley appointed
interim CEO
    ** Stock down 66.3% YTD as of last close

 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))