NZ's Pushpay climbs in heavy trade as investment firm raises stake to be top shareholder

Sixth Street Specialty Lending

23/03/2021 24:07

** Pushpay Holdings  PPH.NZ  rises as much as 6.2% to
NZ$1.880, notching its best session since Jan 12
    ** The payments platform operator says interests associated
with prominent NZ investors Peter Huljich and Christopher
Huljich entered deals to sell their entire stake in Pushpay to
Sixth Street, a global investment firm  urn:newsml:reuters.com:*:nFWN2LK0V1
    ** PPH says Sixth Street will become its largest
shareholder, holding about 17.8% of the co's shares after the
acquisition is completed
    ** Co welcomes Six Street as cornerstone investor, saying it
is a highly experienced technology and growth investor with a
core focus on the convergence of software and payments
    ** More than 175 mln shares change hands, compared with the
30-day average volume of 8.5 mln 
    ** Stock is the biggest percentage gainer in the benchmark
NZX50 index  .NZ50 
    ** Stock down 2.2% this year, as of last close, compared
with a 5.8% decline on the NZX50 

 (Reporting by Rashmi Ashok in Bengaluru)
 ((Rashmi.Ashok@thomsonreuters.com; +918061822604;))