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Why is this ASX 200 stock surging despite a $500 million writedown?

Why is this ASX 200 stock surging despite a $500 million writedown?
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Incitec Pivot (OTCMKTS:INCZY) Trading Up 1%

Incitec Pivot Limited (OTCMKTS:INCZY – Get Rating) was up 1% during trading on Monday . The stock traded as high as $2.03 and last traded at $2.01. Approximately 8,468 shares changed hands during trading, an increase of 11% from the average daily volume of 7,597 shares. The stock had previously closed at $1.99. Incitec Pivot […] ....

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