Australia's RAS Technology soars on agreeing to $34.7 million buyout bid

RAS Technology Holdings

Mon 05:34

   ** Shares of RAS Technology RTH.AX surge as much as 87%, their largest intraday pct move to date, to A$1.01
** Stock hits highest level since early December 2025
** Racing data provider to be sold to UK-based The Press Association, a unit of privately-held PA Media Group, for A$49.8 million ($34.73 million)
** Co to receive A$1.04 per share under deal, representing a 92.6% premium to stock's last close
** Adds, deal to be closed in February 2027
** Trading volume at about 2.7 million shares, versus a 30-day average of 11,210
** Stock up 17.7% YTD, including moves in current session
($1 = 1.4339 Australian dollars)

(Reporting by Swetha Lakshmi in Bengaluru)
((Swetha.Lakshmi@thomsonreuters.com;))