Australia's QANTM Intellectual on track for best day on non-binding buyout offer

Qantm Intellectual Property

27/02/2024 02:18

** Shares of QANTM Intellectual Property  QIP.AX  advance as
much as 24.9% to A$1.430, set for their best day, if gains hold 
    **  The IP services provider confirms it has received a
non-binding indicative proposal from UK-based IP firm Rouse
International Holdings  
    ** Co says it has agreed to Rouse's request to conduct due
diligence review in order to put forth a binding offer 
    ** Adds that discussions are in early nature and no
certainty of transaction going through 
    ** Shares hit highest levels since Sept 3, 2019 
    ** QANTM stock has risen ~20.5% this year, as of last close

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