Australia's Veris jumps most in 20 months on divesting unit to Telstra

Veris

31/01/2022 03:19

** Shares of Veris Ltd  VRS.AX  surge up to 39% to A$0.082,
their sharpest jump since May 2020
    ** The aerial data services provider says it signed
agreement with unit of Telstra Corp  TLS.AX  to divest Aqura
Technologies Pty for A$30 mln ($21.04 mln)  urn:newsml:reuters.com:*:nASX91HlNZ
    ** VRS says after the sale of Aqura, co will be in a
position to retire all bank debt 
    ** Deal with Telstra Purple Pty is targeted for completion
at Feb-end
    ** Stock touches its highest levels since May 11, 2021
    ** VRS up about 9.3% this year as of last close


($1 = 1.4259 Australian dollars)

 (Reporting by Savyata Mishra in Bengaluru)
 ((Savyata.mishra@thomsonreuters.com))