UK's STM Group surges on possible cash offer from PSF Capital

STM

11/07/2023 09:00

** Shares of STM Group  STMG.L  surges as much as 128% to 
hit their highest level of 62.6p since October 2018 
    ** The financial services provider confirms possible cash
offer from PSF Capital GP II at 70p per STMG share 
    ** Says will unanimously recommend offer to shareholders in
case firm offer is made
    ** Offer at a premium of 154.5% to STMG's last close 
    ** Stock on track to log best day since market debut in
March 2007, if trend holds 
    ** Up to last close, stock down ~5% this year 


    
   

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