Australia's National Tyre & Wheel leaps on $19.8 mln Black Rubber buy

NTAW Holdings

02/11/2021 24:44

** Shares of National Tyre & Wheel Ltd  NTD.AX  surge as
much as 13.5% to A$1.3, biggest intraday pct gain since June 16
    ** Vehicle tyre distributor buys https://www.asx.com.au/asxpdf/20211102/pdf/452h3h97nsk53x.pdf
 Black Rubber for up to A$26.3 mln ($19.78 mln), expanding its
truck tyre customer base
    ** Says deal expected to raise its annualised sales rev to
A$520 mln
    ** Sees additional A$5.5 mln EBITDA on an annualised basis 
    ** Stock hits its highest since Sept. 2
    ** ~207,000 shares change hands, almost double their 30-day
avg volume of 107,775 shares
    ** Stock rose 20.5% this year, as of last close  
  

($1 = 1.3298 Australian dollars)

 (Reporting by Dhriti Garg in Bengaluru)
 ((dhriti.garg@thomsonreuters.com))