Australia's Probiotec jumps most in over 5-1/2 years on Multipack-LJM buy

Probiotec

10/11/2020 02:26

** Shares of Probiotec Ltd  PBP.AX  jump as much as 29.3% to
A$2.23, their biggest intraday pct gain since March 2015
    ** The over-the-counter pharma firm to buy contract packing
firm Multipack-LJM for up to A$52.5 mln ($38.20 mln)
 urn:newsml:reuters.com:*:nASX99HwsM
    ** Says deal expected to add ~40% to FY EPS and to be funded
by debt
    ** PBP outperforms broader market  .AXJO  gains on vaccine
trial results 
    ** PBP hits its highest level since Feb. 24; more than
210,613 shares change hands vs 30-day avg volume of 63,926
    ** Stock down 12.9% this year as of last close
    
($1 = 1.3742 Australian dollars)

 (Reporting by Savyata Mishra in Bengaluru)
 ((Savyata.mishra@thomsonreuters.com))