Australia's Aumake soars on signing deed for debt-to-equity conversion

Xenitra

17/02/2023 02:53

** Shares of Aumake Ltd  AUK.AX  climb as much as 25% to
A$0.005, their highest since Jan. 11
    ** Consumer retailer says executed deed whereby Grand Aust
International and Grand Aust New Zealand agreed to convert A$1.4
mln ($958,860.00) of debt into Aumake equity
    ** Says conversion of debt into equity is at an issue price
of A$0.00888 per share
    ** Stock posts its biggest intraday pct gain since Feb. 6
    ** More than 9.4 mln shares change hands, 4 times the 30-day
average volume
    ($1 = 1.4601 Australian dollars)
 (Reporting by Poonam Behura in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com;))