STM Group gains on $43.5 mln offer from Jambo

STM

10/10/2023 08:58

** Shares in STM Group  STMG.L  up 14.3% at 60p  
    ** The financial services firm agrees to Jambo SRC's 60
pence/shr cash buyout offer
    ** Offer at a 118.2% premium to STM's close of 27.5p on July
10, last business day before the offer period
    ** Offer values STM at 35.6 mln pounds ($43.5 mln)
    ** Including session's gains, stock has doubled in value so
far this year
 
 ($1 = 0.8179 pounds)

 (Reporting by Prerna Bedi in Bengaluru)
 ((Prerna.Bedi@thomsonreuters.com; +91 98052 24616;))