Naked Brand Group jumps after co finds potential merger partner

Cenntro (The)

20/08/2021 13:37

** Shares of intimate apparel maker Naked Brand Group Ltd
 NAKD.O  up 15.5% at $0.58 premarket
    ** Naked Brand says it recently reached a preliminary
agreement with a potential merger partner; but did not disclose
the co name  urn:newsml:reuters.com:*:nFWN2PR01R   
    ** Says it is conducting due diligence and there is no
guarantee the deal will be completed 
    ** Co shares hit 2021 high of $3.40 in January during the
social-media driven trading frenzy of the so-called "meme
stocks"
    ** Stock down over 85%, as of last close 
    

 (Reporting by Uday Sampath in Bengaluru)
 ((UdaySampath.Kumar@thomsonreuters.com; within U.S.+1 646 223
8780; Twitter: https://twitter.com/sampath_uday  ;))