Australia's Pepper Money surges on strong outlook, stake buy in finance broker

Pepper Money

04/04/2022 05:37

** Shares of specialist mortgage lending company Pepper
Money  PPM.AX  rise as much as 6.8% to A$2.210, highest since
Jan. 17
    ** Co says https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02506189-2A1366577?access_token=83ff96335c2d45a094df02a206a39ff4
 it executed binding agreements to acquire 65% interest in car
and asset finance broker Stratton Finance for A$78 mln ($58.60
mln)
    ** Transaction values Stratton at A$120 mln on a
debt-free/cash-free basis
    ** Co says strong performance over CY21 has continued into
Q1 CY22
    ** Mortgage originations of A$1.9 bln up 54% y/y in Q1;
March CY22 closing AUM of A$13 bln, up 20%
    ** PPM stock marks its biggest intraday pct jump since March
17, up for a second straight session
    ** Stock down 4.17% this year, as of last close


($1 = 1.3310 Australian dollars)

 (Reporting by Anan Ashraf)
 ((Anan.Ashraf@thomsonreuters.com))