Australia's Income Asset Management rises, sees positive cashflow after loan payment

Moneyme

16/03/2022 01:16

** Income Asset Management  IAM.AX  rises as much as 4.3% to
A$0.245, its biggest intraday pct jump since March 1
    ** Says https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02499645-2A1363364?access_token=83ff96335c2d45a094df02a206a39ff4
 raised A$85 mln ($61.04 mln) to repay a warehouse facility from
digital financial services firm MoneyMe Ltd  MME.AX  
    ** Adds refinance expected to "bring IAM into positive net
operating cashflow for March"
    ** Says refinance reflects strong 1H22 results for IAM, with
revenue doubling from last year
    ** IAM hits highest since March 3; on track to post third
straight gaining session
    ** IAM down 17.5% this year, as of last close

($1 = 1.3926 Australian dollars)

 (Reporting by Sameer Manekar in Bengaluru)
 ((Sameer.Manekar@thomsonreuters.com; Twitter: https://twitter.com/sameer_manekar))