BUZZ-Australia's Advanced Braking Technology hits nearly 2-month high on distribution agreement

Reuters
2024-10-22

** Shares of Advanced Braking Technology rise as much as 6.7% to A$0.080, their highest since Aug. 29

** Auto parts manufacturer announces three-year exclusive agreement with RaptorTech to market and sell braking system BrakeiQ globally

** Co expects partnership to generate incremental revenue, and help it expand into new untapped markets

** Stock rises for a third consecutive session

** About 600,000 shares change hands, compared with the 30-day avg of ~98,000

** Stock up 46.2% YTD, as of 0428 GMT

($1 = 1.4995 Australian dollars)

(Reporting by Kumar Tanishk in Bengaluru)

((Tanishk.Kumar@thomsonreuters.com;))

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