Australia's H&G High Conviction eyes best day in 4 months on Kiland stake sale

Kiland

22/12/2023 02:56

** Shares of H&G High Conviction  HCF.AX  rise as much as
8.1% to A$1.00, set for best day since Aug 21 - if current gains
hold 
    ** Stock of investment co hits highest level since Nov. 27 
    ** Co sells its shares in forestry management firm Kiland
 KIL.AX , resulting in a 29% return since H&G's IPO 
    ** Kiland shares rise as much as 2% to A$1.755, on track for
best day since Nov. 9 if gains hold
    ** H&G expects increase in distributable profit and fully
franked dividends in FY24
    ** HCF stock set for best week since Sept. 1 with a 5.3%
rise 
    ** About 51,000 HCF shares change hands, compared with the
30-day average volume of 5,238 
    ** Stock down 4.6% this year, as of last close

 (Reporting by Sneha Kumar in Bengaluru)
 ((Sneha.Kumar@thomsonreuters.com;))