Australia's Icandy posts best day in 6 weeks on buying stake in Storms

Icandy Interactive

08/02/2022 01:01

** Shares of Icandy Interactive Ltd  ICI.AX  rise as much as
14.4% to A$0.160, marking their biggest intraday pct fall since
Dec. 29, 2021
    ** Mobile game developer says it would acquire 51% of
Storms, a Southeast Asia based game development and publishing
co, for A$8 mln ($5.70 mln) urn:newsml:reuters.com:*:nASXcdgkRg
    ** Says current shareholders of Storms have an option to
sell the remaining 49% to iCandy within an agreed period of time
    ** Co says it will be well positioned to create and publish
games for the metaverse and Web 3.0 
    ** Stock hits highest since Jan 20
    ** Over 12.6 mln shares change hands, vs 30-day average
volume of 7 mln
    ** Stock up 3.7% YTD, as of last close

($1 = 1.4027 Australian dollars)

 (Reporting by Arundhati Dutta in Bengaluru)
 ((Arundhati.Dutta@thomsonreuters.com;))