Australia's Bigtincan rises on premium takeover proposal

Bigtincan Holdings

20/06/2024 03:22

** Shares of Bigtincan Holdings  BTH.AX  rise as much as
17.4% to A$0.115, their biggest intraday percentage gain since
April 11
    ** Stock hits its highest level in one week
    ** The sales automation software co says it received an
indicative takeover offer from Vector Capital Management,
valuing the co at about A$156.1 mln ($104.13 mln) or A$0.19 per
share
    ** Offer price represents an 81% premium to co's last close
    ** Says co rejected the takeover offer
    ** About 1.9 mln shares change hands, compared with the
30-day average volume of around 1.3 mln
    ** Stock cuts YTD losses to 38.1%, including session's moves
    
    ($1 = 1.4990 Australian dollars)

 (Reporting by Aaditya Govind Rao in Bengaluru)
 ((Aaditya.govindrao@thomsonreuters.com;))