Australian metals recycler Sims jumps after sale of UK business

Sims

13/08/2024 02:37

** Shares of Sims Ltd  SGM.AX  jump as much as 9.3% to
A$10.590, their biggest intraday pct jump since mid-August last
year
    ** SGM stock at its highest level since mid-July, and top
gainer in the ASX200 benchmark index  .AXJO 
    ** SGM on Monday after market close announced the sale of
its metals business in the United Kingdom for post-tax cash
proceeds of about 195 mln pounds ($248.88 mln)
    ** Also announced the sale of its remaining 12.4% stake in
CLP Circular Services unit
    ** SGM down 37.7% so far this year

    ($1 = 0.7835 pounds)

 (Reporting by Sameer Manekar in Bengaluru)
 ((Sameer.Manekar@thomsonreuters.com; Twitter: https://twitter.com/sameer_manekar))