Australia's Swoop hits over 6-year low on $3 million asset divestment

Swoop Holdings

23/10/2026 03:47

** Shares of Australia's Swoop Holdings SWP.AX fall as much as 7.6% to A$0.061, their lowest level since late July 2020
** Shares mark their biggest intraday pct loss since September 3
** The telecom company signs a deal with unit of fibre network provider Xenith Infrastructure Group to sell Sydney-based fibre assets for about A$4.5 million ($3.16 million) 
** Co says deal is expected to occur in Q3 FY27
** Adds proceeds from divestment will be applied towards debt reduction, others 
** More than 157,000 shares change hands, about 1.9x the 30-day average 
** SWP stock down 13.9% so far this week, extending losses to second consecutive week
** YTD, stock down 38%, including session's moves 

($1 = 1.4255 Australian dollars)

 (Reporting by Subhalakshmi Dey in Bengaluru)
 ((Subhalakshmi.Dey@thomsonreuters.com;))