Australia's Midway hits 6-1/2-month high on $10 mln land sale

Midway

27/11/2023 02:39

** Shares of woodfibre processing firm Midway  MWY.AX  rise
as much as 10.1% to A$0.820, their highest since May 16
    ** Stock posts its biggest intraday pct gain since Oct 12
    ** Co enters a binding memorandum of understanding (MoU)
with grain supply chain firm CHS Broadbent to sell land in North
Shore, Victoria for A$15.5 mln ($10.09 mln)
    ** Adds CHS Broadbent will initially lease and then buy a
five-hectare land to receive, store and export grain from 2H24 
    ** About 136,332 shares change hands, compared with the
30-day average volume of 36,551 
    ** Stock down 21.6% this year, as of last close


    ($1 = 1.5366 Australian dollars)

 (Reporting by Sneha Kumar in Bengaluru)
 ((sneha.kumar@thomsonreuters.com;))