Australia's PPK Group advances as Craig stake sale becomes unconditional

PPK

29/06/2026 04:01

** Shares of PPK Group PPK.AX rise as much as 18.8% to A$0.38, their largest intraday pct gain since April 20
** Stock hits its highest point since May 15
** The investment firm says all conditions precedent for the sale of the company's 39.85% interest in Craig International Ballistics (CIB) have all been satisfied
** Adds completion of transaction expected to occur prior to the end of FY
** Company said in April that proceeds from the sale could be up to A$33.4 million ($23.02 million)
** More than 107,000 shares change hands, 2.6 times the 30-day average
** Stock down 30.5% YTD, including the day's moves

($1 = 1.4512 Australian dollars)


 (Reporting by Nikita Maria Jino in Bengaluru)
 ((Nikita.Jino@thomsonreuters.com;))