Australia's Hydration Pharmaceuticals soars 144% on asset sale to US co

Hydration Pharmaceuticals

02/10/2024 03:57

** Hydration Pharmaceuticals  HPC.AX  soars as much as
144.4% to A$0.022; logs biggest-ever intraday pct gain
    ** Stock hits highest since Jan. 23
    ** Co divests entire non-U.S. assets to U.S-based Prestige
Consumer Healthcare  PBH.N  for about $9.5 mln
    ** Says divestment will help repay ~$6 mln debt, create new
capital to drive sales from U.S. ops
    ** Around 837,656 shares traded, 3.6x the 30-day avg
    ** Stock down ~12.5%

 (Reporting by Nikita Maria Jino in Bengaluru)
 ((Nikita.Jino@thomsonreuters.com;))