Australia's Novatti rises most in over 25 years on unit stake sale

Novatti

26/06/2026 04:52

** Novatti NOV.AX doubles in value, up as much as 118.2% to A$0.024, marking its sharpest intraday surge since late 2000
** The payments firm's stock up ~13% for the week and is set for its best week in nearly nine months
** Company garners A$1.2 million ($825,720) via a partial divestment of its AUDC unit stake, priced at A$0.80 per share
** Proceeds are set to settle by mid-July and will be used for the growth of its AUNZ Payments business, among other uses
** AUDC is an issuer of the AUDD dollar‑backed stablecoin
** Roughly 12 million shares exchanged, about 30 times the stock's 30‑day average turnover
** Stock down 44.8% YTD
     
($1 = 1.4533 Australian dollars)

 (Reporting by Subhalakshmi Dey in Bengaluru)
 ((subhalakshmi.dey@thomsonreuters.com))