Australia's Merchant House International hits 10-month high

Merchant House International

06/08/2024 03:11

** Shares of Merchant House International  MHI.AX  rise as
much as 57.5% to A$0.063, their highest since Oct. 17, 2023
    ** Stock posts its biggest intraday percentage gain since
May 30
    ** Textile and footwear co says it will close down its
factory and sell its land, buildings and equipment
    ** Says after selling its assets, it intends to wind up and
distribute funds among shareholders
    ** About 223,900 shares change hands, compared with the
30-day average volume of around 9,000
    ** Stock up 40% YTD, including session moves



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