July 18 (Reuters) - Shares in buy-now-pay-later firm Zip (ZIP) rose more than 13% on Thursday after it said it had raised A$217 million ($146.19 million) in equity placement, letting the company pay down its corporate debts early.
Zip completed a fully underwritten private placement of A$1.56 a piece and said it will issue a non-underwritten share purchase plan which could raise up to A$50 million.
BNPL companies like Zip let clients split payments into interest-free installments while purchasing and earn their income from charging a commission from merchants.
Earlier this week the company flagged fourth-quarter transaction volumes surging 19% to A$2.6 billion and revenue raging 22.1% higher than last year. Zip's share price has nearly tripled so far this year.
On Thursday, the stock rose as high as A$1.815 by 0547 GMT, logging its best trading session since Mar. 7.
For Zip, the U.S. outperformed the other regions, with quarterly revenue there jumping nearly 45% and transaction volumes increasing by over 40%.
Last year, Zip inked multiple prospective deals in that country, saying it was the firm's largest opportunity due to a horde of underserved customers seeking credit.
"U.S. transaction volumes growth continued to outpace expectations rising 42% in fourth quarter, we see further upside as Zip penetrates higher spend verticals," analysts at UBS said in a note.
($1 = 1.4843 Australian dollars)
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News: ZIP Australia's Zip up on $146.2 mln financing, promise to pay down debt
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Last
$2.19 |
Change
0.260(13.5%) |
Mkt cap ! $2.772B |
Open | High | Low | Value | Volume |
$2.01 | $2.19 | $2.00 | $56.69M | 26.96M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
13 | 133683 | $2.18 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$2.20 | 235682 | 50 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
4 | 38024 | 2.180 |
2 | 1381 | 2.170 |
3 | 17776 | 2.160 |
5 | 23480 | 2.150 |
2 | 46380 | 2.140 |
Price($) | Vol. | No. |
---|---|---|
2.200 | 194372 | 36 |
2.210 | 175 | 1 |
2.220 | 34300 | 6 |
2.230 | 8500 | 3 |
2.240 | 13075 | 4 |
Last trade - 16.10pm 16/08/2024 (20 minute delay) ? |
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