Australia's Millennium Services eyes best day since debut on takeover offer

Millennium Services

22/12/2023 01:01

** Shares of Millennium Services  MIL.AX  rise as much as
75.8% to A$1.090, on track for best day since IPO debut if gains
hold
    ** Business support services co says it enters into scheme
implementation agreement with SoftBank Robotics Singapore
    ** If scheme implemented, Millennium Services shareholders 
will receive total cash consideration of A$1.15 per share,
implying an equity value of A$57.2 mln ($38.87 mln)
    ** Co says cash consideration represents 85% premium to
stock's last closing price prior to announcement
    ** Stock hits its highest level since Aug. 10, 2016
    ** About 2.5 mln shares change hands, compared with the
30-day average volume of 29,864
    ** Stock had risen 61% YTD, as of last close

($1 = 1.4715 Australian dollars)

 (Reporting by Rajasik Mukherjee in Bengaluru)
 ((Rajasik.Mukherjee@thomsonreuters.com))