Australia's Centrepoint Alliance jumps on premium stake sale

Clearview Wealth

17/11/2023 02:15

** Shares of Centrepoint Alliance  CAF.AX  rise as much as
12% to A$0.280, their highest since Sept. 13, 2022
    ** Stock posts its biggest intraday percentage gain since
Feb. 23
    ** ClearView Wealth  CVW.AX  says it sold about 19.9% stake
in CAF to COG Financial Services  COG.AX   for about A$13.1 mln 
($8.47 mln) or 33 Australian cents per share
    ** Sale price represents a 32% premium on CAF's last close
    ** Nearly 2.8 mln shares change hands, compared with the
30-day average volume of 71,407
    ** Stock up 24.4% YTD, based on last close

($1 = 1.5475 Australian dollars)

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