Australia's Vortiv eyes best day in two decades on deal with Indian bank

Findi

14/03/2022 23:46

** Shares of cybersecurity and fintech co Vortiv Ltd
 VOR.AX  jump as much as 19.2% to A$0.031 - set for best session
since June 22, 2001 if gains hold
    ** Co says https://www.asx.com.au/asxpdf/20220315/pdf/4570myb82yjq92.pdf
 unit Transaction Solutions International (India) Pvt Ltd, a
fintech and ATM managed services provider, has secured a new
five-year agreement with the Central Bank of India  CBI.NS  
    ** Agreement for an additional 2,550 ATMs
    ** TSI estimates increase in annual revenue by A$25 mln 
($17.99 mln) to A$30 mln and annual EBITDA by A$11 mln to A$13
mln, following the deployment of ATMs 
    ** Says it hopes the agreement will enable co to pay a
full-year dividend in FY23
    ** Stock hits highest level since Jan. 24
    ** As of last close, VOR stock had fallen 100% this year
    
($1 = 1.3897 Australian dollars)

 (Reporting by Upasana Singh in Bengaluru)
 ((Upasana.Singh@thomsonreuters.com))