Australia's MyEco Group rises on deal to supply biodegradable bags

MyEco

20/05/2026 01:46

** Shares of Australia's MyEco Group MCO.AX rise as much as 250% to A$0.042, their best intraday pct gain since May 11

** The sustainable packaging developer says it was awarded a three-to-five-year contract to supply compostable caddy liners to support Penrith City Council's food programme

** Caddy liners are small, specialized, and fully compostable-biodegradable bags

** Adds that the expected total contract value is A$6.8 million ($4.83 million)

** Stock up over 180% this year, including the day's move

($1 = 1.4085 Australian dollars)

 (Reporting by Rajasik Mukherjee in Bengaluru)

 ((Rajasik.Mukherjee@thomsonreuters.com))