Pro-Pac Packaging (ASX:PPG) launched a strategic review to improve profitability and reassess funding and capital allocation, according to a Tuesday filing with the Australian bourse.
The company has appointed Flagstaff Partners to advise on the process, which may include asset sales, the filing said.
Pro-Pac said the review is in early stages and no decisions have yet been made, the filing added.
Shares of the company jumped 17% in recent Tuesday trade.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.