Australian telecom firm Vonex's stock doubles on MaxoTel buyout

Vonex

07/07/2025 04:52

** Shares of Vonex VN8.AX double to A$0.036, the highest level since March 4

** Stock posts a record high intraday pct gain

** The telecom co says MaxoTel will buy all of co's shares it does not already own at A$0.036 per share

** Offer price an 80% premium to closing price on July 3

** Over 2.2 million shares change hands, which is 17.2 times the 30-day average

** YTD, shares of co down 17.1%

 (Reporting by Nichiket Sunil in Bengaluru)

 ((nichiket.sunil@thomsonreuters.com))