Australia's Propel Funeral jumps after saying offers not compelling

Propel Funeral Partners

23/10/2023 02:38

** Shares of Propel Funeral Partners  PFP.AX  rise as much
as 3.4% to A$4.56, set for best day since Sept 14 if current
trend holds 
    ** Death care services co says it has not engaged with any
party regarding a potential deal as offers were not compelling
    ** Says offers were unsolicited, preliminary, highly
conditional and non-binding, and has decided not to engage with
anyone 
    ** Around 438,600 shares change hands, 4.6 times the 30-day
average volume of 95,885 shares 
    ** PFP hits highest level since Oct 5 
    ** Stock up ~2% this year, as of last close

 (Reporting by Archishma Iyer in Bengaluru)
 ((Archishma.Iyer@thomsonreuters.com;))