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IFN - Infigen Energy News Story

A$0.93 0.0  0.0%

Last Trade - 02/11/20

Sector
Utilities
Size
Micro Cap
Market Cap £n/a
Enterprise Value £n/a
Revenue £161.2m
Position in Universe th / 1911

BUZZ-Australia's Infigen Energy marks best day ever on buyout bid from Philippines firm

Wed 3rd June, 2020 2:01am
(Updates share movement and adds milestones)
    ** Shares of renewable energy firm Infigen Energy  IFN.AX 
surge as much as 37.3% to A$0.810, in a record intraday pct gain
    ** UAC Energy Holdings, partly owned by a unit of the
Philippine conglomerate Ayala Corp  AC.PS , launches a takeover
bid for IFN, valuing it at about A$777 mln ($537.30 mln)
 urn:newsml:reuters.com:*:nL4N2DF46S
    ** UAC Energy says it plans to make an offer of A$0.80 per
Infigen share; adds that it had acquired a 12.8% stake in
Infigen
    ** Stock hit highest level since Feb. 5
    ** About 93.8 mln shares of IFN traded within first 20
minutes of trade vs its 30-day avg of 2.64 mln shares 
    ** Infigen shares down 9.2% this year, as of last close 

    ($1 = 1.4461 Australian dollars)

 (Reporting by Anushka Trivedi and Shriya Ramakrishnan in
Bengaluru)
 ((Anushka.Trivedi@thomsonreuters.com; +918061823241;))
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