Allcargo Belgium NV to evaluate fund raising opportunities for PE and strategic investment

Allcargo Belgium NV - wholly owned subsidiary of Allcargo Logistics Limited has appointed Jefferies Financial as Investment Banker to evaluate fund raising opportunities for private equity and strategic investment in international supply chain business, which operates under the brand name "ECU Worldwide". The appointment of Jefferies is in line with our strategic objectives and digital growth ambitions on the back of ECU360 - our digital supply chain platform to provide global access and seamless integration to freight forwarders to facilitate trade.

The company continues to look for acquisitions that are strategic and growth led and helps us to build a stronger digital ecosystem.

The Company does not have any guidance on the valuation and any numbers mentioned by any third party are purely speculative.

Shares of Allcargo Logistics Ltd was last trading in BSE at Rs. 259 as compared to the previous close of Rs. 258.9. The total number of shares traded during the day was 134867 in over 2521 trades.

The stock hit an intraday high of Rs. 269.15 and intraday low of 255.35. The net turnover during the day was Rs. 35367603.

Source : Equity Bulls

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