Australia's Openpay soars on $271.4 mln debt funding ahead of U.S. launch

Openpay

07/10/2021 01:13

** Buy-now-pay-later firm Openpay Group  OPY.AX  soars as
much as 13% to A$1.44 in its biggest intraday pct jump since
June 22
    ** Co secures https://investors.openpay.com.au/site/PDF/43662532-7377-487c-b05b-7cffc4e9acd9/OPYsignsGoldmanSachsUSReceivablesWarehouseFacility
 a $271.4 mln debt funding from Goldman Sachs Group  GS.N  and
investment firm Atalaya Capital Management
    ** Expects to launch its BNPL service in the United States
in October
    ** OPY competes with bigger rivals like Afterpay  APT.AX 
and Zip Co  Z1P.AX  to capture market in the United States
    ** OPY hits highest level since Aug. 26
    ** About 477,000 shares change hands, vs the 30-day average
of 291,000 shares
    ** OPY biggest percentage gainer in the ASX All Ordinaries
index  .AORD 
    ** Down 43.6% this year, as of last close, vs a 9.4% rise in
the ASX All Ordinaries index

 (Reporting by Sameer Manekar in Bengaluru)
 ((Sameer.Manekar@thomsonreuters.com;))