BUZZ-Australia's AVJennings hits near 17-yr high on entering due diligence with bidder

Reuters

2025/01/20

** Shares of AVJennings AVJ.AX rise 2.1% to A$0.730, their highest level since Feb. 21, 2008

** Real estate property developer enters confidentiality and exclusivity deed with Singapore's Ho Bee Land HBEE.SI in relation to its indicative proposal for AVJ to acquire all shares it does not already own at A$0.70 per share

** Ho Bee Land made the offer on Jan. 15

** Co agreed to provide due diligence till Feb. 21, clarifying no certainty it will result in a binding transaction

** Stock up ~15% this year, including the day's move

(Reporting by Shivangi Lahiri in Bengaluru)

((shivangi.lahiri@thomsonreuters.com;))

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