Genex Power eyes worst day in over 3 years as buyout bid fails

Genex Power

27/12/2022 23:42

** Shares of Genex Power Ltd  GNX.AX  plummet as much as
28.1% to A$0.115, on track for their biggest intraday percentage
loss since November 2019 
    ** The only renewable energy developer listed on the
Australian stock exchange said a consortium led by Atlassian
 TEAM.O  co-founder Scott Farquhar withdrew its A$346.3 mln
($233.06 mln) buyout bid for co without providing any specific
reason  urn:newsml:reuters.com:*:nL4N33H26C
    ** About 6.3 mln shares change hands, compared with 30-day
average volume of 827,385 shares 
    ** Stock hits lowest since June 30 and is on track for a
second straight session of losses 
    ** GNX is down 20% this year, as of last close 
($1 = 1.4859 Australian dollars)
 (Reporting by Tejaswi Marthi in Bengaluru)
 ((tejaswi.marthi@thomsonreuters.com))