Australia's Prospa Group gains on acquisition plans for Zip business loan portfolio

Prospa

24/01/2024 02:39

** Shares of Australia's Prospa Group  PGL.AX  rise as much
as 4.0% to A$0.395, their biggest intraday pct gain since Jan 12
    ** The financial technology co enters into agreement with
Australia's Zip Business Pty Ltd to acquire Zip business loan
portfolio 
    ** Deal for ~A$15.6 mln ($10.24 mln)
    ** About 32,200 shares change hands, vs 30-day average
volume of 30,092 shares
    ** Stock lost 38.2% in 2023

   ($1 = 1.5228 Australian dollars)

 (Reporting by Roshan Thomas in Bengaluru)
 ((Roshan.Thomas@thomsonreuters.com))