E&P Financial Group jumps most in 5-months on premium capital raise

E&P Financial

24/09/2024 05:36

** Shares of E&P Financial Group  EP1.AX  rise as much as
~23% to A$0.510, hitting their highest level since April 23,;
currently up 19.5% as of 0432 GMT 
    ** Stock hits its biggest pct gain since Sept. 18
    ** The investment manager receives commitments to raise
A$12.5 mln($8.55 mln) through the issue of convertible notes and
free-attaching options
    ** Issue price of A$0.52 per share is at a ~26.8% premium as
of last trading price on Sept 18
    ** Co says proceeds will be used to fund an off-market
buy-back
    ** Stock currently down by 18.8% YTD, including day's moves 
    
($1 = 1.4616 Australian dollars)

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