NZ's Me Today hits record low on weak King Honey business outlook in China

Me Today

20/10/2023 01:31

** Shares of Me Today Ltd  MEE.NZ  fall as much as 25% to
NZ$0.003, their lowest ever
    ** Health and wellness products maker says sales for co's
King Honey unit-operated BEE+ brand in China are expected to be
lower than last year
    ** Says King Honey's customer in China advised sales for
remainder of FY24 likely to be softer than expected
    ** MEE still considering sale of assets or raising of new
capital as part of strategy review
    ** Stock posts its biggest intraday fall since March 1
    ** Stock down 55.6% YTD, as of last close

 (Reporting by Aaditya Govind Rao)
 ((Aaditya.GovindRao@thomsonreuters.com;))