Australia's Wellard hits near 8-year high on vessel sale
14/01/2025 24:38
** Wellard WLD.AX surges as much as 112.3% to A$0.155,
highest since April 12, 2017
** Stock set for strongest trading session since July 2024
** Livestock vessels and livestock supplier to sell its
remaining livestock vessel MV Ocean Drover for $50 mln in cash
to Meteors Shipping SA
** Intends to return all proceeds to shareholders at ~15
Australian cents per share plus an additional capital return of
any surplus cash on hand after the sale
** Expects to complete sale in July 2025
** Stock has more than doubled YTD, as of last close
(Reporting by Shivangi Lahiri in Bengaluru)
((shivangi.lahiri@thomsonreuters.com))