Australia's Powerhouse Ventures jumps as stake valuation in carbon firm increases

Powerhouse Ventures

19/12/2024 05:29

** Shares of investment manager Powerhouse Ventures  PVL.AX 
closed 15% higher at A$0.09, their highest since mid-April 2022
    ** Stock posted its biggest pct daily gain since Sept. 2
    ** Stock gains for third straight session
    ** PVL says carbon project developer Revaia, which it holds
a stake in, will merge with RegenCo Group
    ** Says after merger, PVL's stake will be valued at A$3
mln($1.87 mln), up from initial investment of A$750,000
($466,650) 
    ** Over 738,000 shares have been traded, 4.1x of 30-day
moving avg
    ** Stock up 77.78% so far this year


($1 = 1.6072 Australian dollars)

 (Reporting by Kumar Tanishk in Bengaluru)
 ((Tanishk.Kumar@thomsonreuters.com;))