Australia's Prospa surges on takeover by Salter Brothers-led consortium

Prospa

27/02/2024 02:56

** Shares of Prospa Group  PGL.AX  rise 14.7% to A$0.43,
their highest since mid-May 2023; last up 10.7%
    ** Consortium led by Salter Brothers Emerging Companies
 SB2.AX  has agreed to take over the financial technology co by
buying 100% of its ordinary shares
    ** Under the deal, Prospa shareholders can choose to receive
cash consideration of A$0.45 cash per share
    ** Prospa posted half year profit after income tax
attributable A$6.3 mln versus loss of A$5.2 mln last year
    ** About 1.2 mln shares change hands, the highest since
mid-April 2020
    ** Stock up 9.2% this year, as of last close

 (Reporting by Megha  Rani)
 ((Megha.Rani2@thomsonreuters.com;))