Australia's Pioneer Credit hits over 1-week high on debt portfolio acquisition

Pioneer Credit

08/12/2023 24:33

** Shares of Pioneer Credit Ltd  PNC.AX  rise as much as
2.7% to A$0.385, their highest since Nov 27
    ** The financial services provider says it has acquired a
debt portfolio from UK's Panthera Finance for A$24.1 mln ($15.89
mln)
    ** Adds that following the deal it has upgraded its FY24
Purchase Debt Portfolio Investment forecast to A$85 mln, up from
A$60 mln 
    ** Pioneer stock up 45.3% this year, as of last close

    ($1 = 1.5163 Australian dollars)

 (Reporting by Neha Soni in Bengaluru)
 ((Neha.Soni@thomsonreuters.com))