Australia's Microequities Asset Management jumps on $3.3 mln loan

Microequities Asset Management

30/05/2024 04:46

** Shares of Microequities Asset Management  MAM.AX  rise as
much as 3.5% to A$0.595, highest level since April 17 
    ** Stock set for best day since April 10, if gains hold 
    ** Asset manager says it has secured a A$5 million ($3.30
million) bank loan to support balance sheet investments
        ** Says purpose of loan will be to increase investment
in co's own managed funds 
  
    ** MAM up 5.5% YTD, as of last close

($1 = 1.5138 Australian dollars)

 (Reporting by Adwitiya Srivastava in Bengaluru)
 ((Adwitiya.Srivastava@thomsonreuters.com;))