Australia's RooLife Group jumps on renewable energy deal, premium placement

Roolife

29/07/2026 04:23

** Shares of RooLife Group RLG.AX soar as much as 100% to A$0.004, on track to log their biggest intraday pct gain since late Sept 2025
** Shares hit their highest level since May 7
** E-commerce and digital marketing co says unit will acquire Kabunga Holdings' renewable energy business for 80 million upfront shares of co for deemed value of A$200,000 ($138,960.00) and up to 400 million performance rights
** Co also announces A$1.1 million placement at A$0.0025/shr, a 25% premium to last close
** Adds, proceeds will be to fund and expand co's renewable energy projects and market presence, others
** Nearly 20.4 million shares change hands, about 22.4x 30-day average 
** YTD, stock up 12.5%
($1 = 1.4393 Australian dollars)

(Reporting by Subhalakshmi Dey in Bengaluru)
((Subhalakshmi.Dey@thomsonreuters.com;))