Australia's Selfwealth record jumps on takeover offer for $33.3 mln

Bell Financial

13/11/2024 24:29

** Shares of Selfwealth  SWF.AX  rise as much as 77.1% to A$0.213, their biggest daily rise
ever
    ** Brokerage receives a non-binding indicative proposal from Bell Financial Group  BFG.AX 
in a cash deal valued at ~A$51 mln ($33.29 mln)
    ** Offer of A$0.22 per share is at a premium of ~83% as of last close
    ** BFG says the deal is expected to be materially EPS accretive and increase sponsored
holdings to A$94 bln ($61.35 bln)
    ** Stock hits its highest level since late November 2022
    ** Over 5.7 mln shares change hands, 17.5x the 30-day avg
    ** Stock down 26.8% YTD, including current session, as of 0019 GMT


($1 = 1.5321 Australian dollars)

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