Australia's Excelsior Capital hits record high on sale of unit

Excelsior Capital

28/11/2023 04:14

** Shares of electrical components distributor Excelsior
Capital  ECL.AX  soar as much as 20.4% to a record high of
A$3.310
    ** Stock posts its biggest intraday pct gain since June 2022
    ** Says it is selling 100% stake in unit CMI Operations Pty
to electrical components maker IPD Group  IPG.AX  for up to
A$101 mln ($66.85 mln)
    ** More than 203,000 shares change hands, compared with the
30-day average volume of ~4,084 shares 
    ** Stock up 32.9% this year, as of last close 


($1 = 1.5108 Australian dollars)

 (Reporting by Neha Soni in Bengaluru)
 ((Neha.Soni@thomsonreuters.com;))