Australia's Envirosuite soars on entering $85 mln buyout deal

Envirosuite

12/05/2025 02:23

** Envirosuite EVS.AX jumps 21.1% to A$0.086, highest since March 24

** Stock on track for strongest intraday session since February 25

** Software firm enters into scheme implementation deed with Ideagen to buy 100% of its fully diluted share capital

** Deed implies fully diluted equity valuation of A$132.2 mln ($84.9 mln)

** Co says board unanimously recommends shareholders vote in favour of scheme

** Nearly 15 mln shares traded vs the 30-day avg of 531,498

** EVS up ~27% YTD

($1 = A$1.5564)

 (Reporting by Adwitiya Srivastava in Bengaluru)

 ((Adwitiya.Srivastava@thomsonreuters.com))