Australia's Pointsbet surges on securing investment from U.S.-based firm

PointsBet Holdings

20/06/2022 02:10

** Shares of Pointsbet Holdings  PBH.AX  rise as much as
15.4% to A$2.480 - set for best day since May 27, if gains hold
    ** Gambling firm says it has secured A$94.2 mln ($65.45 mln)
investment from U.S.-based financial trading firm SIG Sports
Investment Corp  urn:newsml:reuters.com:*:nASX2mr4rR
    ** Says it will issue 38.8 mln shares to SIG Sports at a
price of A$2.43 per share and upon issuance, SIG Sports will
become the largest shareholder of PBH
    ** Stock top gainer on benchmark index  .AXJO  and up for a
third consecutive session 
    ** Stock down 69.5% this year, as of last close 

($1 = 1.4393 Australian dollars)

 (Reporting by Tejaswi Marthi in Bengaluru)
 ((tejaswi.marthi@thomsonreuters.com))