Australia's Genex rises as J-Power's $257 mln buyout bid gets approval via proxy votes

Genex Power

16/07/2024 05:08

** Shares of renewable energy firm Genex Power  GNX.AX  rise
as much as 1.85% to A$0.275
    ** Co says Japan's Electric Power Development's (J-Power)
 9513.T  A$381 mln ($256.98 mln) deal to buy GNX approved on
proxy votes 
    ** Says bid was backed by 83.54% of proxy votes cast ahead
of an investor meeting, according to a company slide shown at a
meeting in Sydney
    ** More than 1.8 mln shares change hands, compared with the
30-day average volume of ~2.1 mln shares  
    ** Stock up 50% this year, as of last close, vs a 5.6%
increase in the benchmark S&P/ASX 200 index  .AXJO  

   ($1 = 1.4826 Australian dollars)

 (Reporting by Roushni Nair in Bengaluru)
 ((Roushni.Nair@thomsonreuters.com;))