Australia's Novatti Group surges after unit gets banking licence

Novatti

07/11/2022 24:43

** Shares of Novatti Group Ltd  NOV.AX  rise as much as
91.9% to A$0.355 in their biggest intraday pct gain on record 
    ** Co says banking unit granted a restricted authorised
deposit-taking institution licence by Australia's banking
regulator  urn:newsml:reuters.com:*:nASX9gjMDv 
    ** Plans to launch banking business under the name
"International Bank of Australia"
    ** Shares hit their highest level since Jan. 18
    ** Trading volumes nearly 13 times their 30-day average,
with 3.4 mln shares traded so far
    ** NOV down 38.3% this year, as of last close
 (Reporting by Harshita Swaminathan)
 ((Harshita.Swaminathan@thomsonreuters.com))