HK-listed software provider Vobile at 7-week low, eyes Australia expansion

Vobile

24/10/2018 04:56

** Shares of Vobile Group Ltd  3738.HK  fall 2.1 pct to
HK$3.22, the lowest since Sept. 4, after the online video
content protection services provider says its Australian arm is
not yet generating revenue   
    ** Company says it has established a wholly-owned subsidiary
in Australia but the unit has not recorded any revenue (https://bit.ly/2EPUOfE)
    ** Company says the expansion in Australia will drive new
momentum and will serve as base for acquisition in the country
    ** Vobile has outperformed the Hang Seng Commerce & Industry
Index sector  .HSNC  by 7.7 percentage points in the past month
    ** The Hong Kong Hang Seng sub-index tracking information
technology firms  .HSCIIT  gains 0.9 pct
    ** The Hong Kong benchmark index  .HSI  rises 1 pct

 (Reuters Messaging: donny.kwok.thomsonreuters.com@reuters.net)