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The latest update is out from Wellard Ltd. ( (AU:WLD) ).
Wellard Limited has agreed to sell its remaining livestock vessel, M/V Ocean Drover, for US$50 million to Meteor Shipping SA, a company influenced by Turkish agri-business Göktaşlar Et. The sale is subject to shareholder approval and will lead to a significant cash increase, with plans to return net proceeds to shareholders. The sale marks the end of Wellard’s 46-year involvement in the live export industry, and the board is considering restructuring options that may include delisting from the ASX.
More about Wellard Ltd.
Wellard Limited operates in the global live export industry, focusing on livestock trading and logistics. The company has been a key player in setting high standards for modern agri-business and has established a strong reputation for quality in linking livestock producers with consumers.
YTD Price Performance: 15.62%
Technical Sentiment Consensus Rating: Sell
Current Market Cap: €23.24M
For detailed information about WLD stock, go to TipRanks’ Stock Analysis page.
