Australia's Nufarm tumbles after Sumitomo Chemical sells stake

SUMITOMO CHEMICAL

24/05/2022 01:40

** Shares of crop protection and seed technologies firm
Nufarm  NUF.AX  slide as much as 14% to A$5.02, marking their
worst intraday fall since June 4, 2020
    ** Says it was informed that Sumitomo Chemical Co Ltd
 4005.T  decided to sell its 15.9% shareholding in Nufarm
 urn:newsml:reuters.com:*:nASX94VDgS 
    ** Stock becomes second-biggest percentage loser on
benchmark S&P ASX 200 index  .AXJO  
    ** NUF hits lowest level since Feb. 3
    ** Nufarm and Sumitomo plan to continue their mutually
beneficial business alliance - NUF
    ** NUF up 20.4% YTD, as of last close

 (Reporting by Harshita Swaminathan)
 ((Harshita.Swaminathan@thomsonreuters.com))