ASX-listed Kina Securities falls as PNG regulator blocks deal with Westpac

Kina Securities

14/09/2021 02:00

** Shares of ASX-listed financial services provider Kina
Securities  KSL.AX  tumble as much as 10.6% to A$0.805 - their
biggest intraday percentage fall since Sept 14, 2020
    ** Kina Securities hits its lowest level since Nov 27, 2020
    ** Papua New Guinea competition regulator has decided to
reject Kina Securities proposed stake acquisition in Westpac
Banking Corp's  WBC.AX  Pacific operations  urn:newsml:reuters.com:*:nL4N2QF3VM
    ** The PNG-based co says it is assessing the implications of
the regulator decision and is considering its options
    ** Stock among the worst performers in ASX All Ordinaries
Index  .AORD 
    ** About 1.4 mln shares change hands, compared with the
30-day average volume of about 607,000 shares
    ** Westpac in a separate statement said will continue to
operate these businesses while it reviews the impact on the sale
to Kina 
    ** Westpac shares down 0.5% to A$25.51
       

 (Reporting by Aditya Munjuluru in Bengaluru)
 ((aditya.srivastsav@thomsonreuters.com))