Australia's Propel Funeral Partners rises on acquisition of funeral businesses

Propel Funeral Partners

19/12/2023 02:26

** Shares of Propel Funeral Partners  PFP.AX  rise as much
as 2.2% to A$5.110, their highest level since Aug. 24, 2022
    ** Funeral services provider to acquire three long
established funeral service businesses and related assets
    ** Says acquisition will expand co's network into new
regional markets in Australia and New Zealand
    ** Says total consideration payable on completion of the
acquisitions is about A$10.6 mln ($7.12 mln) 
    ** Co to expand its senior debt facilities to A$275 mln from
A$255 mln 
    ** Stock posts its biggest intraday pct jump since Dec. 12 
    ** Stock up 15.5% this year, as of last close 

($1 = 1.4892 Australian dollars)

 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))