Published: Feb. 20, 2024 at 10:12 a.m. ET
By Adriano Marchese
Shares in Axis Auto Finance jumped in early trading on Tuesday after the company said that it will consider a sale as part of a broader strategic review.
In early trading, shares were up 33% to 10 Canadian cents (7 cents), but shares continue to remain under pressure. Over the course of the last 12 months shares have been…
By Adriano Marchese
Shares in Axis Auto Finance jumped in early trading on Tuesday after the company said that it will consider a sale as part of a broader strategic review.
In early trading, shares were up 33% to 10 Canadian cents (7 cents), but shares continue to remain under pressure. Over the course of the last 12 months shares have been down 76%.
The Canadian fintech company said it has begun a review of strategic alternatives in response to expressions of interest.
Axis said it will evaluate a range of alternatives to determine the best path forward which may include the sale of certain assets or a potential sale or merger of the company.
While the company hasn’t set a timetable to complete the strategic review, it cautioned that there can be no assurance that the review will lead to any particular outcome.
Write to Adriano Marchese at [email protected]
