Australia's Maas logs best day in nearly a month on receiving $1.11 billion for construction business sale
16/10/2026 01:06
BUZZ-Australia's Maas logs best day in nearly a month on receiving $1.11 billion for construction business sale ** Shares of Maas Group holdings MGH.AX gain as much as 12.4% to A$3.72, their biggest intraday pct gain since Septmber 18
** Stock on track to lose 22.7% for the week, its third consecutive week of losses, if current trend holds
** Construction services provider confirms it received A$1.61 billion ($1.11 billion) for the sale of its construction materials division to Heidelberg Materials Australia
** MGH also provides an update with Firmus, saying it will continue to work in relation to progressing approvals for future projects, following Firmus' IPO withdrawal
** YTD, stock down 33.8%, including the session moves
($1 = 1.4459 Australian dollars)
(Reporting by Rudrannsh Mehra in Bengaluru)
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