Australia's Frontier Digital Ventures jumps on buying remaining stake in InfoCasas

Frontier Digital Ventures

09/06/2021 04:27

** Shares of Frontier Digital Ventures  FDV.AX  rise as much
as 4.1% to A$1.280, on track for their best session since May 10
    ** The online classifieds operator enters agreement to
acquire remaining 49% interest in InfoCasas, a property portal
in Uruguay, Paraguay, Peru and Bolivia  urn:newsml:reuters.com:*:nASX6X2tXb
    ** On completion of agreement, co will own 100% of InfoCasas
    ** FDV says initial cash consideration of US$6.2 mln will be
funded using existing cash reserves
    ** Stock at its highest since May 18
    ** More than 593,000 shares change hands vs the 30-day
average volume of 385,000 shares
    ** Stock down 17.5% this year, as of last close
    
  

 (Reporting by Harish Sridharan in Bengaluru)
 ((harish.sridharan@thomsonreuters.com))