Australia's MetalsTech jumps on ASX clearance to purse unit's buyout offer

Global Gold Mining

02/02/2024 04:11

** MetalsTech  MTC.AX  jump 15.9% to A$0.255, their highest
since Jan 15
    ** Stock was on a trading halt since Jan 16 
    ** Canadian PE group Trans Metal Fund on Jan 15 offered to
buy MTC unit Ortac for aggregate $81 mln
    ** MTC says gets ASX clearance to consider the offer since
it does not breach any rules
    ** MTC to now seek shareholder nod for the offer
    ** MTC up ~7% YTD, following a ~58% drop last year

 (Reporting by Neha Soni in Bengaluru)
 ((Neha.Soni@thomsonreuters.com))