Australia's FOS Capital hits record high after Ecopoint LED buy completion
05/10/2021 04:16
** Shares of lighting solutions provider FOS.AX rise as
much as 8% to A$0.270, their highest since June IPO
** Co completes early acquisition of NZ-based commercial
lighting co Ecopoint LED Lighting urn:newsml:reuters.com:*:nASN001Q5B
** Acquisition expands geographical reach and adds new
products to portfolio - FOS
** Reports Q1 sales of A$2.7 mln ($1.96 mln), up 25% y/y
** Co had announced Ecopoint acquisition on Sept. 27 for
NZ$1.87 mln urn:newsml:reuters.com:*:nL4N2QT0C5
** Stock heads for its best day since Sept. 1
** More than 104,000 shares change hands, vs the 30-day
average of about 69,000 shares
** Stock up 8.7% since June 7 debut
($1 = 1.3746 Australian dollars)
(Reporting by Jaskiran Singh in Bengaluru)
((jaskiran.singh@thomsonreuters.com))