Australia's Openpay surges after move to pause U.S ops

Openpay

01/07/2022 01:59

** Shares of Openpay Group  OPY.AX  rise as much as 20.8% to
A$0.145, on track for their best day since Jan. 12, if gains
hold 
    ** The BNPL firm says it will "indefinitely" pause its
operations in United States amid adverse macroeconomic and
public market conditions  urn:newsml:reuters.com:*:nL4N2YH3Z9
    ** Says it will now focus extensively on its Australian
business 
    ** "This decision to shift our approach in the U.S. was not
taken lightly but will now allow even greater focus on Openpay's
Australian business," Openpay's Australia Chief Executive Dion
Appel says
    ** Stock down ~83.5% this year, as of last close 

 (Reporting by Tejaswi Marthi in Bengaluru)
 ((tejaswi.marthi@thomsonreuters.com))