Australia's Probiotec jumps most in over 2 weeks on acquisition

Probiotec

28/06/2021 03:59

** Pharma company Probiotec Ltd  PBP.AX  rises as much as
6.6% to A$2.26, their biggest intraday pct jump since June 9
    ** Says https://wcsecure.weblink.com.au/pdf/PBP/02388577.pdf
 agreed terms to buy Sydney-based H&H Packaging (H&H) for total
of up to A$4 mln ($3.03 mln)
    ** Sees acquisition generating revenue and EBITDA of about
A$6 mln and A$1 mln, respectively, for the year ending June 2021
    ** Adds that acquisition will add plastic moulding
capabilities which can be rolled out across its business
    ** Stock hits highest since June 21
    ** Stock down 11.7% this year, as of last close

($1 = 1.3182 Australian dollars)

 (Reporting by Sameer Manekar in Bengaluru)
 ((Sameer.Manekar@thomsonreuters.com;))