Australia's Johns Lyng soars on buyout offer from Pacific Equity Partners

Johns Lyng

11/06/2025 01:22

** Shares of Johns Lyng Group JLG.AX rise as much as 18.5% to A$3.015, their highest levels since February 25

** Stock on track for a record strongest trading session, if gains hold

** The property business firm receives a buyout offer from fund manager Pacific Equity Partners (PEP), with transaction details unknown

** Says PEP made offer after market close on May 16 and has also been granted a period of exclusive due diligence

** Co has market capitalisation of A$718.67 million ($468.86 million)

** Stock down 32.1% YTD, as of last close

($1 = 1.5328 Australian dollars)

 (Reporting by Nikita Maria Jino in Bengaluru)

 ((Nikita.Jino@thomsonreuters.com;))