Australia's Genex Power gains most in over 8 weeks on deal with Japan's Electric Power

Genex Pharmaceutical

30/11/2020 01:14

** Shares of power generation firm Genex Power  GNX.AX  rise
as much as 8.6% to A$0.190, marking their biggest intraday
percentage gain since Oct 9
    ** Co enters development funding agreement with Japanese
public utility co Electric Power Development for the Kidston
Stage-3 Wind Project in North Queensland  urn:newsml:reuters.com:*:nASX2t7hLq
    ** Co says agreement allows Electric Power Development
opportunity to earn up to a 50% interest in the K3-Wind Project
through initial funding contribution of A$1.5 mln ($1.11 mln)
    ** Stock hits highest since Nov 24 
    ** Stock down 22.2% this year, as of last close 

    ($1 = 1.3503 Australian dollars)

 (Reporting by Tejaswi Marthi in Bengaluru)
 ((tejaswi.marthi@thomsonreuters.com))