Australia's NEXION jumps on securing loan facility

Nexion

10/05/2023 03:02

** Shares of Australia's NEXION Group Ltd  NNG.AX  rise as
much as 13.3% to A$0.017
    ** Stock eyes best day since April 28, if current gains hold
    ** The cloud service provider says co has executed a term
loan agreement with PARC Capital Fund Services Pty Ltd for up to
A$21 mln ($14.24 mln)
    ** Adds funds will be used towards acquisition of
complimentary technology services businesses in Australia and
New Zealand
    ** About 100,600 shares have traded so far compared with the
30-day moving average of 255,600 shares 
    ** NNG has fallen 68.1% this year, as of last close


($1 = 1.4743 Australian dollars)

 (Reporting by Nausheen Thusoo in Bengaluru)
 ((Nausheen.Thusoo@thomsonreuters.com;))