Australia's Hexima soars on agreement to buy private AI co

Hexima

24/07/2024 05:54

** Shares of Hexima  HXL.AX  rise as much as 75% to A$0.021,
hitting their highest level since Nov. 3, 2023
    ** Stock set for best day ever if current gains hold
    ** Biotechnology co to acquire 100% of shares in artificial
intelligence platform developer Real Thing Entertainment Pty
    ** Co to issue Real Thing shareholders an aggregate of 79
mln fully paid ordinary HXL shares
    ** Adds co proposes to raise between A$4 mln ($2.63 mln) and
A$7.5 mln
    ** Around 22.9 mln shares change hands, compared with the
30-day average volume of 228,864 shares
    ** Stock has fallen 33.3% this year, as of last close


($1 = 1.5186 Australian dollars)

 (Reporting by Shivangi Lahiri in Bengaluru)
 ((shivangi.lahiri@thomsonreuters.com))