Australia's Korvest rises on site expansion plan

Korvest

27/06/2025 03:04

** Shares of Korvest KOV.AX rise as much as 3.3% to A$10.85, their highest since June 19

** Stock on track for best day since January 29 if gains hold

** Industrial equipment maker approves plan to expand its Kilburn site for increasing production capability and capacity; construction planned to start in the first half of FY26

** Says cost of the build is expected to be ~A$7.4 million ($4.85 million)

** Shares set to log biggest weekly pct gain since week-ended May 30, if trends continue

** Stock up 5.7% YTD, including moves in the current session

($1 = 1.5265 Australian dollars)

(Reporting by Jasmeen Ara Shaikh in Bengaluru)

((JasmeenAraIslam.Shaikh@thomsonreuters.com;))