Australia's Stealth Global Holdings hits near 4-mth peak on Skipper Transport Parts buy

Stealth group

04/06/2021 02:40

** Shares of industrial tools distributor Stealth Global
Holdings  SGI.AX  rise as much as 31.6% to A$0.125, their
highest since Feb. 11
    ** Co says its unit has reached agreement to acquire Skipper
Transport Parts, a distributor of industrial maintenance and
repair products  urn:newsml:reuters.com:*:nASN001A0D
    ** Adds acquisition for A$4.2 mln ($3.22 mln)
    ** Stock posts its biggest intraday pct gain since Feb. 11
    ** About 1.0 mln shares change hands, compared with the
30-day average of about 91,000 shares
    ** Stock has fallen 5% this year as of last close

($1 = 1.3051 Australian dollars)

 (Reporting by Soumyajit Saha in Bengaluru)
 ((Soumyajit.Saha@thomsonreuters.com;))