Australia's Merchant House International extends gains to hit 6-year high

Merchant House International

07/08/2024 03:10

** Shares of Merchant House International  MHI.AX  rise as
much as 114.3% to A$0.150, their highest since July 20, 2018
    ** Stock posts its biggest intraday gain since April 16,
2021
    ** Shares closed 75% higher on Tuesday, after the textile
and footwear co said it will close down its factory and sell its
land, buildings and equipment 
    ** After selling its assets, co intends to wind up and
distribute funds among shareholders
    ** About 265,000 shares change hands on Wednesday, compared
with the 30-day average volume of around 18,000
    ** Stock up 233.3% YTD, including session's gains



 (Reporting by Aaditya Govind Rao in Bengaluru)
 ((Aaditya.govindrao@thomsonreuters.com;))