A spokesperson from the Australian Securities and Investments Commission confirmed that the corporate regulator would review trading in Bellamy’s Australia shares before the Launceston-based organic group issued a profit warning which saw its stocks sink by more than 40 per cent and half a billion dollars stripped off its value.
Subscribe now for unlimited access.
$0/
(min cost $0)
or signup to continue reading
“Wherever there is a signifcant material announcement ASIC, as a matter of course, would consider any apparent unusual trades and this would be no exception,” the spokesperson said.
At opening on Wednesday Bellamy’s stock was trading at $6.45, down from $12.09 on Friday morning.
Holly Monery
Holly Monery is a journalist for The Examiner newspaper, based in Launceston, Tasmania. Her main area of focus is local government.
Holly Monery is a journalist for The Examiner newspaper, based in Launceston, Tasmania. Her main area of focus is local government.
