BUZZ-Australia-listed Cardno jumps, co intends to wind up and return cash to shareholders

Reuters2024-09-16

** Shares of infrastructure and environmental services firm Cardno Ltd rise as much as 11.43% to A$0.390, marking their biggest intraday pct gain since Aug. 1

** CDD, focused on operations in Latin America, touches its highest level since Sept. 9

** CDD says intends to wind up co "in an efficient and timely basis, ideally by June 30, 2025"

** Says will "seek to realise whatever value it can over the next 6 months and return whatever cash it can to shareholders"

** Says did not find any buyer for its Latin America-focused environmental consulting business Entrix America; will continue to explore other options including closing down the business

** CDD up ~150% this year, including current session's moves

(Reporting by Nikita Jino in Bengaluru)

((Nikita.Jino@thomsonreuters.com;))

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