Australia-listed GQG Partners eyes best session to date on share buyback plan

GQG Partners

22/11/2024 24:55

** Shares of Australia-listed GQG Partners  GQG.AX  rise as
much as 16.4% to A$2.48
    ** Stock last up 10.8%, set for best session to date - if
current gains hold
    ** U.S.-based investment manager says co will establish an
on-market buyback
    ** Co will have flexibility to purchase up to A$100 mln 
($65.11 mln) of CHESS Depositary Instruments on common stock
    ** Buyback plan comes a day after GQG's stock plunged 23% as
Gautam Adani, head of Indian conglomerate Adani Group in which
co holds nearly 20% stake, was indicted in the U.S. over bribery
and fraud charges
    ** More than 11 mln shares change hands, 3.9 times the
30-day avg of about 2.9 mln shares
    ** GQG up 37.8% YTD, including current session's moves

($1 = 1.5359 Australian dollars)

 (Reporting by Nikita Maria Jino in Bengaluru)
 ((Nikita.Jino@thomsonreuters.com;))