Australia's Eden Innovations gains most in 2-1/2 months on defence division expansion

Eden Innovations

17/04/2026 03:56

** Shares of Australia's Eden Innovations EDE.AX rise as much as 44.4% to A$0.26, their biggest intraday pct gain since January 28

** Stock touches its highest level since February 17

** Stock set for a second consecutive session of gains, if current trend holds

** The concrete and plastic additives maker says it would raise A$4.05 million ($2.90 million)

** Offer price of A$0.18/share in line with co's last close

** Says funds to be used to expand business development for EdenShield, co's new business division focused on entering defence, military, among other sectors

** Stock up more than 300% YTD, including day's moves

   ($1 = 1.3965 Australian dollars)

 (Reporting by Aamir Sheik Khalid in Bengaluru)

 ((Aamir.SheikKhalid@thomsonreuters.com))