Australia's Thorn Group jumps on sale of asset finance portfolio

Resimac

20/06/2023 02:22

** Shares of Thorn Group  TGA.AX  jump as much as 4.4% to
A$1.20
    ** Financial services co says it has signed into an
agreement for the sale of its asset finance portfolio to Resimac
Group Ltd  RMC.AX  
    ** TGA says it expects to receive estimated A$15 mln 
($10.27 mln) cash proceeds from the sale
    ** RMC shares gain 0.6% to A$0.915
    ** TGA stock up 0.9% this year as of last close
    
($1 = 1.4601 Australian dollars)

 (Reporting by Harish Sridharan in Bengaluru)
 ((harish.sridharan@thomsonreuters.com))