Australia's Toys"R"Us hits 3-week high on funding to drive growth strategy
09/07/2024 03:38
** Shares of Toys"R"Us ANZ TOY.AX rise as much as 26.3% to
A$0.125, their biggest intraday pct gain since March 20
** Stock hits highest level since June 19
** Toys and lifestyle products retailer secures up to A$4.0
mln ($2.69 mln) funding to launch its House of Brands growth
strategy
** Co's House of Brands includes a portfolio of 5 brands
offering a range of baby and children products as well as
products for adults
** Co's growth strategy involves increased focus on product
enhancement, targeted marketing, others
** Says funding via a A$2.49 mln placement and A$1.5 mln
investment from Mercer Street Global Opportunity Fund II
** Placement issue price of A$0.07 per share is a 29.3%
discount to stock's last close
** Stock down 1.0% YTD as of last close
($1 = 1.4850 Australian dollars)
(Reporting by John Biju in Bengaluru)
((John.Biju@thomsonreuters.com;))