Australia's MA Financial Group jumps on fund's oversubscribed IPO

MA Financial

10/02/2025 03:52

** Shares of MA Financial Group  MAF.AX  rise 1.2% to A$7.31
    ** Asset manager reports closure of IPO for the MA Credit
Income Trust  MA1.AX 
    ** Says IPO was oversubscribed, leading to an increase of
capital raised from the initial A$300 mln to A$330 mln ($188 mln
to $206.7 mln) to meet some of the excess subscription demand
    ** Stock rose as much as 2.8% earlier in the day, hitting
its highest level since late April 2022
    ** Over 330,000 shares change hands, 1.9x the 30-day avg
    ** Stock gained 8.5% in January


($1 = 1.5964 Australian dollars)

 (Reporting by Kumar Tanishk in Bengaluru)
 ((Tanishk.Kumar@thomsonreuters.com;))