Australia's Regal Partners jumps most in over 1 year as stake buy boosts assets

Regal Partners

31/10/2023 23:59

** Shares of Australia's Regal Partners Ltd  RPL.AX  rise as
much as 11.4% to A$1.95, biggest intraday pct gain since July 1,
2022, 
    ** The investment management co says it entered a strategic
partnership agreement with Australia's Taurus SM Holdings
    ** Says co will buy 50% of the issued ordinary shares of
Taurus under agreement
    ** Co says its funds under management will increase to A$8
bln ($5.07 bln) on a pro forma basis post acquisition 
    ** RPL reported FUM of A$5.76 bln, as at Sept-end
    ** Stock among top 10 percentage gainers in the ASX All
Ordinaries Index  .AORD 
    ** Stock down ~49% YTD, as of last close

    ($1 = 1.5773 Australian dollars)

 (Reporting by Aaditya Govind Rao in Bengaluru)
 ((Aaditya.govindrao@thomsonreuters.com;))