Australia's Locality Planning Energy jumps on debtor receiving construction funding

Locality Planning Energy Holdings

05/01/2024 02:46

** Shares of Locality Planning Energy Holdings  LPE.AX  rise
as much as 22.9% to A$0.043, posting their biggest intraday pct
gain since June 21, 2022
    ** Stock hits its highest level since Dec. 11, 2023 
    ** Electricity provider says Bundaberg BioHub, which owes co
A$6.1 mln ($4.09 mln), has secured construction funding to
develop a biohub that will help fully repay total debt during H1
2024 
    ** Adds Bundaberg BioHub has prepaid interest for Q1 2024
amounting to A$230,000 to LPE 
    ** About 213,000 shares change hands, compared with the
30-day average volume of 68,545 shares 
    ** Stock fell 24.1% last year

($1 = 1.4903 Australian dollars)

 (Reporting by Neha Soni in Bengaluru)
 ((Neha.Soni@thomsonreuters.com))