** Shares of Mayfield Childcare MFD.AX surge as much as 5.1% to A$0.505, their biggest intraday pct gain since Oct. 11
** Childcare services provider announces restructuring overhaul with plans to divest underperforming portfolio in Queensland and Victoria to curb excessive management expenses
** Firm also unveils a fresh incubator partnership with a newly formed partner and is to be bankrolled by Finexia Limited
** Says, in a bid to back moves, it will raise A$4.6 mln ($2.86 mln) at A$0.4653 per share via placement
** Stock posts its highest level since Dec. 9
** Over 45,000 shares traded, 1.3 times the 30 day avg
** Stock down 30.8% YTD, including current session, at 2346 GMT
($1 = 1.6088 Australian dollars)
(Reporting by Kumar Tanishk in Bengaluru)
((Tanishk.Kumar@thomsonreuters.com))
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