Moelis Australia hits 9-mth high on Sydney property acquisition

MA Financial

09/12/2020 04:29

** Shares of Moelis Australia Ltd  MOE.AX  rise as much as
2.8% to A$4.800, their highest since March 5
    ** Investment bank to acquire the Kinselas Hotel and the
Courthouse Hotel in Taylor Square, Darlinghurst, Sydney for A$67
mln ($49.78 mln)  urn:newsml:reuters.com:*:nASX5dqt0n
    ** Both venues are quality freehold going concern assets
that will benefit from our platform expertise and the reopening
of Sydney following easing of COVID-19 lockdown in Jan - MOE 
    ** Stock set to post third consecutive day of gains
    ** ~171,291 shares change hands vs 30-day average volume of
108,320
    ** Stock down 8.4% this year, as of last close
    
($1 = 1.3459 Australian dollars)

 (Reporting by Yamini C S)
 ((Yamini.CS@thomsonreuters.com;))