ASX-listed Powerhouse Ventures hits near 2-month high on selling stake in Orbis

Powerhouse Ventures

12/05/2021 03:16

** Shares of Powerhouse Ventures Ltd  PVL.AX  rise as much
as 21.4% to A$0.17, their highest since March 18
    ** Intellectual property commercialisation firm reaches deal
with Pacific Channel, a deep tech venture capital fund, for sale
of co's stake in Orbis Diagnostics  urn:newsml:reuters.com:*:nASX8bNldp
    ** Says proceeds from the sale will be NZ$360,000 
($260,928.00)
    ** PVL marks its biggest intraday pct gain since May 6
    ** About 1 mln shares change hands, compared with the 30-day
average volume of 362,000 shares
    ** Stock more than doubled this year as of last close


($1 = 1.3797 New Zealand dollars)

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