BUZZ-Australia's Wellard hits near 8-year high on vessel sale

Reuters

01-14

BUZZ-Australia's Wellard hits near 8-year high on vessel sale

** Wellard WLD.AX surges as much as 112.3% to A$0.155, highest since April 12, 2017

** Stock set for strongest trading session since July 2024

** Livestock vessels and livestock supplier to sell its remaining livestock vessel MV Ocean Drover for $50 mln in cash to Meteors Shipping SA

** Intends to return all proceeds to shareholders at ~15 Australian cents per share plus an additional capital return of any surplus cash on hand after the sale

** Expects to complete sale in July 2025

** Stock has more than doubled YTD, as of last close

(Reporting by Shivangi Lahiri in Bengaluru)

((shivangi.lahiri@thomsonreuters.com))

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