Australia's DXN jumps most in more than 3 weeks on debt restructuring deal

Dxn

14/10/2024 04:49

** Shares of DXN  DXN.AX  rise as much as 16.88% to A$0.09 -
 the biggest intraday pct gain since Sept. 18
    ** Data center manufacturer, in a deal with Pure Asset
Management (Pure), agrees to pay A$1 mln ($672,900) from
existing loan facility and convert another A$1 mln debt to
equity
    ** Says Pure will subscribe to 17.5 mln additional ordinary
shares in co for A$1.2 mln
    ** Over 757,000 shares traded, 1.3x the 30-day avg
    ** DXN up 196% YTD

($1 = A$1.4861)

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