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)
- Forums
- ASX - By Stock
- News: ZIP Australia's Zip up on $146.2 mln financing, promise to pay down debt
July 18 (Reuters) - Shares in buy-now-pay-later firm Zip (ZIP)...
Featured News
Add ZIP (ASX) to my watchlist
|
|||||
Last
$1.79 |
Change
0.180(11.2%) |
Mkt cap ! $2.011B |
Open | High | Low | Value | Volume |
$1.66 | $1.82 | $1.63 | $76.45M | 43.84M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 700 | $1.77 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$1.79 | 29305 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 700 | 1.770 |
1 | 131756 | 1.765 |
2 | 8482 | 1.760 |
1 | 4500 | 1.755 |
4 | 78428 | 1.750 |
Price($) | Vol. | No. |
---|---|---|
1.790 | 60250 | 5 |
1.795 | 296396 | 7 |
1.800 | 250468 | 15 |
1.810 | 1368282 | 15 |
1.815 | 172146 | 7 |
Last trade - 16.10pm 18/07/2024 (20 minute delay) ? |
Featured News
ZIP (ASX) Chart |