Australia's Auctus rises after selling entire stake in Petspiration to Woolworths

Pier 12 Capital

15/12/2022 24:16

** Shares of Australia's Auctus Investment Group Ltd
 AVC.AX  rise as much as 2.2% to A$0.950, highest since Dec 6
    ** Investment manager says it will sell its entire stake of
10.22% in Petspiration to Woolworths Group  WOW.AX  
    ** Woolworths says buying a 55% equity stake in Petspiration
    ** AVC says it will receive performance fee in excess of A$6
mln ($4.11 mln) on close
    ** Stock to mark best day since Dec 6, if gains hold 
    ** EVC had fallen about 22% this year, as of last close
($1 = 1.4582 Australian dollars)
 (Reporting by Nausheen Thusoo in Bengaluru)
 ((Nausheen.Thusoo@thomsonreuters.com;))