Australia's Genex dismisses sell-down reports, shares hit 5-week high

Genex Power

09/05/2023 03:45

** Shares of Genex Power Ltd  GNX.AX  jump as much as 6.3%
to A$0.170, their highest level since April 3
    ** GNX dismisses speculation that JPGA Partners Pty Ltd has
sold its stake in co
    ** Says JPGA Partners has 7.72% stake in co, which has
remained unchanged since May 18, 2021
    ** Local media had reported earlier that stockbroker Morgans
traded over 50 mln GNX shares after market close on Monday,
translating to a nearly 3.75% stake in GNX
    ** Stock posts its biggest intraday pct fall since April 14
    ** Nearly 17.9 mln shares change hands, compared with the
30-day average volume of 2.6 mln
    ** Stock up 18.5% this year, as of last close
    

 (Reporting by Harish Sridharan in Bengaluru)
 ((harish.sridharan@thomsonreuters.com;))