Australia's Praemium hits record high on Netwealth's $590 mln takeover bid

Praemium

01/11/2021 23:58

** Shares of investment management platform provider
Praemium  PPS.AX  jump as much as 19.3% to hit a record high of
A$1.485 
    ** Co says wealth manager Netwealth's  NWL.AX  A$785
mln($590.48 mln) takeover bid undervalues its business
 urn:newsml:reuters.com:*:nL4N2RS4QU
    ** PPS, however, said it is open to talks at an appropriate
valuation
    ** Stock delivers its biggest intraday pct gain since July
14
    ** PPS stock up 88.6% this year, as of last close
    
  
    ($1 = 1.3294 Australian dollars)

 (Reporting by Dhriti Garg in Bengaluru)
 ((dhriti.garg@thomsonreuters.com))