Origo shares rocket as it sells Niutech Energy stake

Origo Partners announced on Thursday it has sold its remaining Niutech Energy stake for $2.1m.

The company received 90% of the sale price, with the remaining 10% due on fulfillment of certain conditions. The sale price was at a discount of 20% to book value, the firm added.

As a result of the news, Origo shares were up 22% at 0.20p each.

Although the company did not disclose the size of the stake it sold on Thursday in April 2018 it announced it held a 3.7% after an early divestment.