Australia's Noumi drops on divestment of stake in dairy producing unit

Noumi

29/06/2022 07:10

** Shares of Noumi Ltd  NOU.AX  tank as much as 19% to
A$0.15, their sharpest intraday loss since June 15
    ** The plant- and dairy-based beverage maker says https://bit.ly/3uaeqm0
 it will sell all of its shares in dairy producer Australian
Fresh Milk Holdings to Leppington Pastoral Investments
    ** Says sale price of A$28.6 mln ($19.72 mln), slightly
higher than earlier guidance of not less than A$25 million
    ** Expects sale to complete by mid-to-late September 2022
    ** NOU is seeking shareholder approval for the potential
sale in August
    ** About 395,000 shares change hands, compared with the
30-day average volume of 223,000 shares
    ** Stock down 55.4% this year, as of last close

($1 = 1.4501 Australian dollars)

 (Reporting by Savyata Mishra in Bengaluru)
 ((Savyata.mishra@thomsonreuters.com))