Australia's Hancock & Gore rises on asset acquisition agreement

Schoolblazer

12/03/2025 03:23

** Shares of Hancock & Gore HNG.AX rise 15.2% to A$0.265

** Stock set for its strongest session since November 5, 2021

** The diversified investment co announces that it has entered into a conditional agreement to buy assets of H&G High Conviction HCF.AX

** Consideration for the deal comprises buy-back and cancellation of all shares in HCF held by H&G and the issue of H&G shares to HCF at an issue price of A$0.30 per H&G share

** Approximately 63.7 mln H&G shares anticipated to be issued

** HNG stock down 8.6% YTD, including current session's moves

 (Reporting by Manasi Dasa in Bengaluru)

 ((Manasi.DasaSundeep@thomsonreuters.com;))