BUZZ-Australia's Praemium at 22-month high on surge in Q2 net inflows

Reuters
01-23
BUZZ-Australia's Praemium at 22-month high on surge in Q2 net inflows

** Praemium PPS.AX jumps 11.8% to A$0.85, highest since March 9, 2023

** Fintech co reports Q2 net inflows of A$371 mln ($232.7 mln) vs A$139 mln in Q1

** Co's Praemium SMA scheme gets net quarterly inflows of A$261 mln, the most in nine years

** Around 4.5 mln shares traded vs the 30-day avg of 690,803

** Stock rose as much as 15.1% earlier in the day, marking its highest intraday pct gain since Dec. 5, 2022

** PPS rated "buy" on avg; median PT is A$0.73 – LSEG

** Stock added 88.5% in 2024

($1 = A$1.5941)

(Reporting by Nichiket Sunil in Bengaluru)

((Nichiket.Sunil@thomsonreuters.com;))

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