VivoPower gains on Ripple Labs joint venture deal

Shares of power infrastructure developer VivoPower VVPR.O jump 13.7% to $2.89 as it announces a joint venture with South Korea's Lean Ventures to invest in Ripple Labs

The partnership includes the establishment of a dedicated investment vehicle aiming to acquire $300 million worth of Ripple Labs preferred shares

VVPR projects a net economic return of $75 million over three years from management fees and performance carry under the agreement

Co says it is in the final stages of due diligence on this transaction

Including session's moves, VVPR up 115.8% YTD