Australia's Pioneer Credit hits nearly 3-month high on premium placement

Pioneer Credit

22/03/2024 01:22

** Shares of Australia's Pioneer Credit  PNC.AX  rise as
much as ~6% to A$0.445, their highest since late December 2023
    ** Financial services provider receives binding commitments
for A$10 mln ($6.57 mln) placement
    ** Placement at an issue price of A$0.45 per share,
representing a premium of 7.1% to stock's last close
    ** Issue of 22.2 mln shares represents 0.3% of co's free
float of 64.4 mln shares - LSEG data
    ** About 196,000 shares change hands by 0107 GMT, vs 30-day
average volume of 113,200 shares
    ** PNC set for a third consecutive weekly gain
    ** Stock flat YTD, as of last close

($1 = 1.5218 Australian dollars)

 (Reporting by Roshan Thomas in Bengaluru)
 ((Roshan.Thomas@thomsonreuters.com))