Australia's Wellard sees best day in nearly 10 months on livestock vessel sale
12/12/2019 24:33
** Shares of Wellard Ltd WLD.AX rise as much as 28.26% to
A$0.059, their biggest intraday percentage rise since Feb. 14
** The livestock supplier says it signed a term sheet to
sell its MV Ocean Shearer for $53.0 million to Livestock
Transport & Trading Co KSC in Kuwait (https://reut.rs/2ru5Dyq)
** "The sale of the MV Ocean Shearer cuts Wellard's
financial debt to very manageable levels while crystallising
value from an under-utilised vessel in our fleet", Executive
Chairman John Klepec said
** Stock hits highest since April 1
** Nearly 1.3 million shares change hands, compared with the
30-day average volume of about 170,000 shares
** Stock has fallen 16.36% this year, as of last close
(Reporting by Sameer Manekar in Bengaluru)
((Sameer.Manekar@thomsonreuters.com;))