Aussie software firm K2fly soars on $25 mln buyout offer

K2FLY

21/06/2024 03:05

** Shares of K2fly  K2F.AX  rise as much as 85% to A$0.185,
eyes best day of gains in nearly a decade    
    ** Shares hit highest since November 2022 
    ** The Australian software provider agrees to be bought by
Accel-KKR for an equity value of A$38 mln ($25.3 mln)
    ** Each K2fly shareholder will get A$0.19 in cash per share
held, a premium of 90% to its last close 
    ** Co's board recommends shareholders to vote for the scheme
    ** Stock has risen ~66% so far this year

($1 = 1.5015 Australian dollars)

 (Reporting by Prerna Bedi in Bengaluru)
 ((Prerna.Bedi@thomsonreuters.com; +91 98052 24616;))