Australia's Wellnex Life jumps to 6-month high on Pain Away ops sale

Wellnex Life

07/08/2026 05:40

** Shares of Wellnex Life WNX.AX jump as much as 172.7% to A$0.15, their highest since February 10
** On course to log their best session ever
** Consumer healthcare business announces agreement to sell its topical pain relief brand Pain Away business and assets to Mentholatum Australasia
** Total maximum consideration of up to A$21.3 million ($14.97 million) in cash, including upfront purchase price of A$19.8 million payable at completion
** Sale part of co's transformation by converting a flagship asset into capital, which will be redeployed to repay debt and support focus on its retained consumer healthcare and contract manufacturing operations, others
** About 1.1 million shares change hands, 14.1 times the 30-day avg
** Up 17% YTD, including the session's moves
     
     
($1 = 1.4231 Australian dollars)

 (Reporting by Anjali Singh in Bengaluru)
 ((anjali.singh2@thomsonreuters.com;))