Australia's 5G Networks falls most in 10 months on bid to buy Aucyber

Aucyber

20/12/2024 03:30

** Cloud computing service provider 5G Networks  5GN.AX 
fall as much as 13.9% to A$0.155, its biggest intraday pct fall
since late-February 
    ** Co bids to acquire cyber security solutions Aucyber
 CYB.AX  at an offer price of A$0.11 in cash, representing a
premium of 6.8% to the stock's last close - according to data
compiled by LSEG 
    ** CYB says it is in the early stages of evaluating the
offer and advises shareholders to take no action
    ** Stock posts its lowest level since Dec 3
    ** More than 1.8 mln shares change hands, 2.6x the 30-day
avg
    ** 5GN stock down 30.1%, outperforming CYB's YTD loss of
78%, including current session's move

 (Reporting by Kumar Tanishk in Bengaluru)
 ((Tanishk.Kumar@thomsonreuters.com;))