Australia's Marley Spoon jumps on plans of Frankfurt listing

Ark Solutions

26/04/2023 02:02

** Shares of Australia's Marley Spoon  MMM.AX  rise as much
as 17.2% to A$0.170, set to mark best day since March 2, if
current gains hold 
    ** Stock hits highest since April 17 
    ** Meal kit service provider says it has entered into a
business combination agreement with a Special Purpose
Acquisition Company (SPAC), 468 SPAC II SE, which is listed on
Frankfurt Stock Exchange
    ** Says about 70% of the co's existing shareholders have
agreed to transfer their holdings to the SPAC 
    ** Adds transfer is in consideration for new shares in 468
SPAC at an exchange ratio that is currently equivalent to A$0.21
per CDI   
    ** Stock has risen 11.5% this year, as of last close

 (Reporting by Nausheen Thusoo in Bengaluru)
 ((Nausheen.Thusoo@thomsonreuters.com;))