The S&P/ASX 200 index is fighting hard to keep its head above water on Thursday. In afternoon trade the benchmark index is up slightly to 6,643.5 points.
Four shares that have climbed more than most today are listed below. Here’s why they have charged higher:
The Bravura Solutions Ltd (ASX: BVS) share price is up 2% to $5.09 after the fintech company announced its third and final non-binding indicative proposal to acquire GBST Holdings Limited (ASX: GBT). Bravura Solutions has offered $3.00 per share to GBST and given it until Friday afternoon to make a decision. However, GBST doesn’t appear to be in a rush to respond and advised that other companies are interested in acquiring it.
The Bubs Australia Ltd (ASX: BUB) share price has rocketed 22% higher to $1.14 after it announced a strategic channel partnership with Kidswant. This deal is the first major project of the Bubs-Beingmate Joint Venture and sees the company’s baby food products hit the shelves of 275 Kidswant stores in key shopping areas across 123 cities throughout China. Management expects the annual retail sales performance of Bubs products through Kidswant to reach RMB30 million (~A$6.25 million) in FY 2020.
The LiveTiles Ltd (ASX: LVT) share price has jumped 4.5% to 46 cents a day after providing an update on its Hyperfish business. According to the release, the Hyperfish business has exceeded its annualised recurring revenue growth targets for the six-month period to June 30 2019. This means the second and final earn-out consideration will be issued in full. Hyperfish’s recurring revenue is up 425% since its acquisition.
The Starpharma Holdings Limited (ASX: SPL) share price has risen 4% to $1.43 after the dendrimer products developer announced that its VivaGel BV has been launched in Europe under the brand name Betadine BV. According to the release, the product has been launched in several countries in Europe, including Germany, with further roll-out in additional European countries due during the year.
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James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Bravura Solutions Ltd and Starpharma Holdings Limited. The Motley Fool Australia has recommended Bravura Solutions Ltd, BUBS AUST FPO, and Starpharma Holdings Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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