Australia's Propell surges on partnership with Square

Propell Holdings

08/10/2021 24:45

** Shares of Propell Holdings  PHL.AX  surge as much as
68.4% to A$0.165, post their biggest intraday percentage gain
since July 1 
    ** Small and medium enterprises-focused fintech says it has
partnered with U.S.-based payments business Square Inc  SQ.N  to
integrate its e-commerce payments into co's platform 
 urn:newsml:reuters.com:*:nGLF9qsR9V
    ** Says partnership will have a domestic focus initially,
with scope for global expansion in shared market
    ** PHL will work closely with Square to provide e-commerce
payments to businesses in industries such as retail and 
professional services  
    ** About 9.6 mln shares change hands vs the 30-day average
of 221,211 shares 
    ** Stock down ~28.3% since its market debut on April 14 

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