Australia's BNK Banking gains most in over 3 months on deal to sell its unit

MA Financial

15/12/2021 04:10

** Shares of financial services provider  BBC.AX  soar as
much as 25% to A$1.3, their highest level since Sept.7
    ** Co enters a share sale agreement with MA Financial Group
 MAF.AX  under which MAF to acquire 100% of Finsure Holdings Pty
Ltd, a BBC subsidiary for A$151.6 million ($107.73 million)
 urn:newsml:reuters.com:*:nASX7MTZT2
    ** Adds that the sale of Finsure is a part of strategic
review undertaken by BBC board and is anticipated to complete in
the first half of 2022  urn:newsml:reuters.com:*:nL8N2SZ6VX 
    ** Stock posts its biggest intraday pct gain since Sept. 21 
    ** Stock sees busiest day since Feb. 2019: More than 1.7 mln
shares change hands, compared with the 30-day average volume of
~64,000 shares 
    ** Stock has risen 47.9% this year as of last close


($1 = 1.4073 Australian dollars)

 (Reporting by Roushni Nair in Bangalore)
 ((Roushni.Nair@thomsonreuters.com))