Australia's Mediland Pharm rises on plans to buy China-based co

Innlanz

02/04/2019 02:33

** Shares of health and luxury products retailer Mediland
Pharm Ltd  MPH.AX  rise as much as 2.2 pct to A$0.235
    ** Stock posts biggest intraday pct gain since March 22
    ** Co proposes to buy China-based Ian's Health Lounge,
complimentary business with established e-commerce platforms and
retail franchise stores in China.  urn:newsml:reuters.com:*:nGLF1z0b6B
    ** Mediland would buy 100 pct shares of its Australian
entity and all the assets in the Chinese entity for A$500,000
($355,200.00)
    ** About 714,000 shares change hands versus 30-day average
volume of about 153,000 shares
       


($1 = 1.4077 Australian dollars)

 ((aditya.srivastsav.thomsonreuters.com@reuters.net))