Australia's IOUPAY jumps on strategic collaboration with IDSB

Ovanti

08/09/2022 01:42

** Shares of Australia's IOUPAY Ltd  IOU.AX  rise as much as
10% to A$0.075
    ** Shares jump after the fintech company signs a strategic
partnership with I.Destinasi Sdn Bhd (IDSB) urn:newsml:reuters.com:*:nASX2w3HkP
    ** Agreement entails collaboration on financing
opportunities targeting Malaysian Federal Civil Servants in
various government ministries
    ** Co says through agreement it gains access to large
numbers of high credit quality customers with a unique product
offering and has the opportunity to significantly upscale its
monthly transaction volumes
    ** Stock posts its biggest intraday pct gain since Aug 31
    ** Stock has fallen 56% this year, as of last close

 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))