Australia's 1st Group rises most in nearly 1 year on Visionflex acquisition plans

Visionflex

25/01/2022 02:10

** Shares of digital health services provider 1st Group Ltd
 1ST.AX  rise as much as 25% to A$0.015, post their best
intraday session since Feb 12
    ** Says it proposes to acquire Visionflex Ltd, which makes
telehealth devices and software for remote clinical examinations
 urn:newsml:reuters.com:*:nASX1jyHbd 
    ** 1st will pay by issuing Visionflex's shareholders a total
of 484 mln of its shares 
    ** Will undertake private placement of shares to raise A$2.5
mln ($1.79 mln) from Adcock Private Equity, Visionflex's largest
shareholder 
    ** About 2.1 mln shares change hands, compared with the
30-day average of about 115,000 shares 
    ** Stock hits highest level since Dec 13
    ** 1ST down 14.3% so far this year, as of last close 
    

    ($1 = 1.3978 Australian dollars)

 (Reporting by Harshita Swaminathan in Bengaluru)
 ((Harshita.Swaminathan@thomsonreuters.com))