Bell Porter positive on takeover interest in NZ's SmartPay Holdings, raises PT

Tyro Payments

18/03/2025 01:22

** Australia-listed shares of SmartPay Holdings SMP.AX rise 5.1% to A$0.82, hitting their highest since Oct. 14

** Bell Porter upgrades payment services provider's rating to "buy" from "hold", raises price target to A$1.33 from A$0.68

** SmartPay on Monday received buyout offers, with one from Australia-based Tyro Payments TYR.AX valuing co at NZ$241.1 million ($140.44 million)

** Brokerage expects greater level of strategic interest in SmartPay as co looks for NZ expansion and transformation

** Co's New Zealand-listed shares SPY.NZ up as much as 4.7% at NZ$0.89, highest since Oct. 15

** SmartPay's ASX shares up 57.7% YTD, including current session's moves

($1 = 1.7167 New Zealand dollars)

 (Reporting by Nikita Maria Jino in Bengaluru)

 ((Nikita.Jino@thomsonreuters.com))