Australia's FatFish Group rise on strategic stake acquisition

Fatfish

14/05/2024 05:25

** Shares of Fatfish Group  FFG.AX  rise as much as 21.4% to
A$0.017, their highest level since May 8
    ** Stock currently up 10.7%, on track for best day since
Feb. 23, if gains hold
    ** Internet venture investment co agrees to acquire up to
51% strategic stake in AI Gaming Co. Pte.
    ** Co says in the event that it completes both initial
investment and exercises its option, it will own 50.85% of AI
Gaming Co.
    ** Adds agreement envisages a series of investments by FFG
of up to A$2.8 mln ($1.85 mln)
    ** Stock has fallen 17.7% this year, as of last close
    
    
($1 = 1.5154 Australian dollars)

 (Reporting by Shivangi Lahiri in Bengaluru)
 ((shivangi.lahiri@thomsonreuters.com))