Australia's Platinum Capital rises as co mulls strategic review

L1 Global Long Short Fund

26/04/2024 02:23

** Shares of Platinum Capital Ltd  PMC.AX  jump as much as
6.4% to A$1.405, set for biggest rise since April 7, 2020, if
gains hold
    ** The closed-ended investment co says it will be
undertaking a formal strategic review of the options available
for PMC to maximise value for PMC shareholders as a whole
    ** Platinum Capital says the review will look at options to
build scale and/or convert to an open-ended fund structure
allowing investors to trade at or close to net asset value
    ** Stock hits highest level since March 10, 2022
    ** More than 524,251 shares change hands, twice the 30-day
average volume 
    ** Stock up 2.72% this year, as of last close


 (Reporting by Poonam Behura in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com;))