Aussie consumer lender Solvar at two-week high on $10 mln buyback plan

Solvar

13/05/2024 02:04

** Shares of Australian personal finance firm Solvar Ltd
 SVR.AX  rise as much as 5.3% to A$0.99, their highest level
since April 30
    ** SVR stock marks its biggest intraday pct jump since March
19
    ** Co announces an on-market buyback of up to A$15 mln
($9.89 mln) as part of group's capital management strategy
    ** Reiterates FY24 normalised net profit after tax forecast
of between A$25 mln and A$30 mln
    ** SVR stock down 28.8% this year, as of last close

   ($1 = 1.5163 Australian dollars)

 (Reporting by Sameer Manekar in Bengaluru)
 ((Sameer.Manekar@thomsonreuters.com; Twitter: https://twitter.com/sameer_manekar))