Australia's Stealth Group jumps on acquisition of mobile accessory distributor

Stealth group

05/06/2024 05:27

** Shares of Stealth Group  SGI.AX  rise as much as 19.6% to
A$0.275, set to climb most since Feb. 16 - if current gains hold
    ** Industrial distribution group acquires Force Technology
International, distributor of consumer mobile accessory products
in Australia, for A$9.5 mln ($6.33 mln)
    ** Acquisition expected to be complete before June 14
    ** Stock hits its highest level since April 11
    ** Stock up over 2% this year, as of last close

($1 = 1.5017 Australian dollars)

 (Reporting by Rajasik Mukherjee in Bengaluru)
 ((Rajasik.Mukherjee@thomsonreuters.com;))