Australia's Smart Parking hits near 6-year high on UK deal

Smart Parking

05/03/2024 01:03

** Shares of Smart Parking  SPZ.AX  rise as much as 13.3% to
A$0.470, their highest since May 16, 2018
    ** Stock posts its biggest intraday percentage gain since
Aug 21, and on track for its third daily rise, if gains hold
    ** The parking technology co says it acquired the parking
management contracts and assets from UK's Local Parking Security
    ** Says acquisition adds 126 new parking management sites
for co
    ** Adds purchase price of A$5.8 mln ($3.77 mln)
    ** About 469,000 shares change hands, compared with the
30-day average volume of 160,300
    ** Stock up 18.6% YTD, based on last close

    ($1 = 1.5368 Australian dollars)

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