BUZZ-Powell Max falls on acquisition strategy

Reuters

Jan 17, 2025

** Shares of financial communications services provider Powell Max PMAX.O fall 33.5% to 96 cents

** PMAX says it is planning to acquire firms that generate $1.5 mln to $5 mln in gross annual revenue

** PMAX says acquisitions are to enhance co's market share in the financial communications industry in Hong Kong and Asia

** Acquired companies will operate semi-autonomously as separate business units under their respective managements - PMAX

** Says PMAX has secured a standby equity line of credit of up to $40 mln to support its acquisition strategy

** More than 26.6 mln shares traded, 109x their 25-day moving average

** PMAX fell ~47% in 2024 since its Nasdaq debut on Sept. 5, 2024

(Reporting by Kamal Choudhury in Bengaluru)

((Kamal.Choudhury@thomsonreuters.com;))

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PMAX** Says PMAX has secured a standby equity line of credit of up to $40 mln to support its acquisition strategy** More than 26.6 mln shares traded, 109x their 25-day moving average** PMAX fell ~47% in 2024 since its Nasdaq debut on Sept. 5, 2024  ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"PMAX":"Powell Max Limited","BK4112":"金融交易所和数据"},"translate_title":"BUZZ-Powell Max因收购策略而下跌","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"PMAX":0.9},"content_text":"BUZZ-Powell Max falls on acquisition strategy** Shares of financial communications services provider Powell Max PMAX.O fall 33.5% to 96 cents** PMAX says it is planning to acquire firms that generate $1.5 mln to $5 mln in gross annual revenue** PMAX says acquisitions are to enhance co's market share in the financial communications industry in Hong Kong and Asia** Acquired companies will operate semi-autonomously as separate business units under their respective managements - PMAX** Says PMAX has secured a standby equity line of credit of up to $40 mln to support its acquisition strategy** More than 26.6 mln shares traded, 109x their 25-day moving average** PMAX fell ~47% in 2024 since its Nasdaq debut on Sept. 5, 2024 (Reporting by Kamal Choudhury in Bengaluru) ((Kamal.Choudhury@thomsonreuters.com;))","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"merge","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}