New Zealand's Smartpay hits 7-month high on new takeover offer

Smartpay Holdings

05/05/2025 03:59

** New Zealand's Smartpay SPY.NZ rises as much as 25.4% to A$1.060, highest since October 4, 2024

** Stock posts biggest intraday pct gain since March 17

** Payment services provider gets fresh takeover offer, valuing co at NZ$290.3 mln ($173.6 mln)

** Offer price of NZ$1.20/shr represents a 42% premium to Friday close and above Tyro Payments' TYR.AX NZ$1/shr bid

** Smartpay did not disclose which co made the new offer

** Stock sees busiest session since March 20, with ~85,000 shares traded vs the 30-day avg of ~15,000

** SPY last up 17.2%, taking YTD gains to ~56%

($1 = NZ$1.6725)

 (Reporting by Aaditya Govind Rao in Bengaluru)

 ((Aaditya.govindrao@thomsonreuters.com;))