Australia's Opyl gains on MoU with consortium for expansion

Pathkey.AI

24/07/2024 05:24

** Shares of Opyl  OPL.AX  rise as much as 7.4% to A$0.029,
their highest level since June 14
    ** The medical research technology co signs a memorandum of
understanding (MOU) with Xco consortium for expansion in EMEA
and North America markets 
    ** Co and Xco consortium to form a joint venture (JV) for
exclusive sale of co's products in Europe, Middle East, Africa
and North America
    ** Says JV entity will seek to undertake a capital raise to
secure between $3 mln and $5 mln within nine months of
establishment
    ** About 963,000 shares change hands, 2.9 times the 30-day
average volume of shares
    ** Stock has fallen 3.6% this year, as of last close

 (Reporting by Sherin Sunny in Bengaluru)
 ((Sherin.Sunny@thomsonreuters.com))