Australia's Kaddy hits two-week high on funds from Singaporean investor
19/12/2022 02:36
** Shares of global wine and beverage business servicing
firm Kaddy Ltd KDY.AX rise as much as 42.9% to A$0.04
** Stock hits highest level since Dec 2
** Co announces investment of up to A$7 mln ($4.70 mln)
before costs via a convertible note from Singapore-based
investor Triton Growth Management Pte
** Says A$0.7 mln has been received with A$1.3 mln to be
received by the end of January
** Adds funds will be used as working capital and to help
scale the Kaddy platform, a tech platform providing supply chain
solutions to beverage suppliers
** Stock on track for its best day since Nov 25, if gains
hold
** More than 1.3 mln shares change hands, compared with the
30-day average volume of about 866,000 shares
** Stock down 97.7% this year, as of last close
($1 = 1.4894 Australian dollars)
(Reporting by Jaskiran Singh in Bengaluru)
((Jaskiran.Singh@thomsonreuters.com;))