Moelis Australia hits 2-month high on strong investor demand for services

MA Financial

13/05/2020 05:56

** Moelis Australia Ltd  MOE.AX  rises as much as 11.5% to
A$3.100, hitting its highest since March 13
    ** The investment banking and brokerage co says https://www.asx.com.au/asxpdf/20200513/pdf/44hsn84j5h0kc5.pdf
 it received strong commitments for its MOE Bond IV issuance
totalling A$32.2 mln ($20.82 mln) that fully covers co's
maturing Bond I issue
    ** MOE says overall, underlying business has performed well
despite headwinds associated with COVID-19, with about A$76 mln
of gross fund inflows in April and May to date
    ** Says China office performing well, and investor demand
for co's portfolio of credit products continues to be
encouraging
    ** Stock down 45.5% this year, as of last close


($1 = 1.5463 Australian dollars)

 (Reporting by Rashmi Ashok in Bengaluru)
 ((Rashmi.Ashok@thomsonreuters.com; +918061822604;))