Australia's PPK Group rises on deal to sell stake in Craig International Ballistics

PPK

20/04/2026 02:31

** Shares of Australia's PPK Group PPK.AX rise as much as 28.6% to A$0.405, marking their biggest intraday pct gain since October 29, 2024

** Stock hits its highest level since February 26

** Company agrees to sell 39.85% interest in Craig International Ballistics

** Says total proceeds could be up to A$33.4 million ($23.87 million)

** Says outcome of ongoing strategic review of portfolio of investments will determine use of divestment funds

** About 422,589 shares change hands, 16.4x the 30-day average

** Stock down ~16%, YTD

($1 = 1.3992 Australian dollars)

 (Reporting by Sneha Kumar in Bengaluru)

 ((Sneha.kumar@thomsonreuters.com;))