Australia's Qualitas surges to near 2-month high on A$1 bln credit mandate

Qualitas

08/05/2023 03:11

** Shares of Australia's Qualitas Limited  QAL.AX  rise as
much as 3.7% to A$2.550, hitting highest since March 17
    ** Stock set to mark best day since April 19, if current
gains hold  
    ** The alternative real estate investment manager says co
has entered into a mandate with a global institutional investor
that provides for up to A$1 bln ($675.10 mln) to be
incrementally available to Qualitas    
    ** Adds the mandate is available for investment in tranches,
of which A$220 mln is activated and available for deployment
    ** QAL stock down 12.1% this year, as of last close


    ($1 = 1.4813 Australian dollars)

 (Reporting by Nausheen Thusoo in Bengaluru)
 ((Nausheen.Thusoo@thomsonreuters.com;))