Australia's Spenda climbs on acquisition of finance platform Limepay

Spenda

16/07/2024 03:46

** Shares of Spenda  SPX.AX  rise as much as 21.4% to
A$0.009, their highest since June 28
    ** Stock posts its biggest intraday pct gain since June 28
    ** Payments services firm says to buy commercial finance
service provider Limepay for A$8 mln ($5.39 mln) in an all-scrip
transaction
    ** Says the acquisition will help accelerate co's current
projects, expand product suite and enter new verticals
    ** Stock has fallen 46.2% this year, as of last close


($1 = 1.4830 Australian dollars)

 (Reporting by Sneha Kumar in Bengaluru)
 ((Sneha.Kumar@thomsonreuters.com;))