New Zealand's Smartpay hits 7-month high on new takeover offer
ReutersMay 5, 2025 2:59 AM
New Zealand's Smartpay SPY.NZ rises as much as 25.4% to A$1.060, highest since October 4, 2024
Stock posts biggest intraday pct gain since March 17
Payment services provider gets fresh takeover offer, valuing co at NZ$290.3 mln ($173.6 mln)
Offer price of NZ$1.20/shr represents a 42% premium to Friday close and above Tyro Payments' TYR.AX NZ$1/shr bid
Smartpay did not disclose which co made the new offer
Stock sees busiest session since March 20, with ~85,000 shares traded vs the 30-day avg of ~15,000
SPY last up 17.2%, taking YTD gains to ~56%
($1 = NZ$1.6725)
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