Australia's Qoria gains most in 45-mths on knocking down $307 mln takeover offer

Qoria

08/04/2024 03:14

** Shares of Australia's Qoria  QOR.AX  rise as much as
33.3% to A$0.42, set for biggest intraday gain since July, 2020
    ** Co rejects buyout offer from venture capital firm K1
Investment Management, LLC, valuing the global tech firm at
A$466.3 mln ($306.50 million)
    ** Says offer significantly undervalues the firm, adding it
does not intend to engage further with K1 over the proposal
    ** Shares hit highest since August, 2022
    ** Stock has risen 12.5% this year, as of last close 


($1 = 1.5214 Australian dollars)

 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))