NZ's Paysauce eyes best day in nearly 11 months on buying SmoothPay

PaySauce

01/06/2021 01:12

** Shares of Paysauce Ltd  PYS.AX  rise as much as 11.5% to
NZ$0.29, their biggest intraday pct gain since July 14, 2020
    ** Payroll software provider says it has bought the business
and assets of SmoothPay, a New Zealand payroll provider
 urn:newsml:reuters.com:*:nNZSrsfa
    ** Says over 1,500 SmoothPay subscribers will join PYS,
bringing the total customer base to over 5,000 subscribers
    ** Adds that co will pay for SmoothPay's purchase through
issue of 1.4 mln shares in PYS
    ** Stock hits its highest levels since May 3
    ** Stock down 16.1% this year, as of last close

 (Reporting by Savyata Mishra in Bengaluru)
 ((Savyata.mishra@thomsonreuters.com))