Australia's Aumake soars on supply tie-up with Chinese co

Xenitra

22/07/2024 01:49

** Shares of Australia's Aumake  AUK.AX  rise as much as 50%
to A$0.006, their highest level since early mid-August 2023
    ** Social e-commerce platform operator says it has entered
into a strategic co-operation framework with China's state-owned
Yangtze River New Silk Road International Logistics (Hubei) 
    ** Under the framework, Yangtze River intends to purchase a
minimum of A$100 mln ($66.90 mln) worth of Australian goods from
Aumake
    ** About 13.9 mln shares change hands by 0032 GMT, vs the
30-day average volume of 2.8 mln shares
    ** Stock flat this year, as of last close

($1 = 1.4948 Australian dollars)

 (Reporting by Roshan Thomas in Bengaluru)
 ((Roshan.Thomas@thomsonreuters.com))