The broker has lowered price targets for Findi Ltd (ASX: FND) and Pantoro Gold Ltd (ASX: PNR). 

These two small-cap shares have moved in completely different directions over the last year. 

Here's what the broker had to say. 

Findi

Findi engages in the financial payments and technology business. The firm through TSI India, provides electronic surveillance and power management services to banks and payment solutions.

Its share price has tumbled more than 52% year to date, and despite an optimistic price target from the team at Morgans, it seems the broker's outlook is changing. 

Morgans said headwinds have impacted 1H26 results:

We think FND is probably tracking ~six months behind where it hoped to be, albeit management expects the company to return to more normal business run rates by 4Q26.

The broker has made sizable downgrades to FND FY26F/FY27F EPS (>-20%) reflecting revised FY26 company guidance, together with more conservative overall future earnings estimates. 

Its price target is lowered to $5.42 (from A$7.57). 

The broker said that whilst acknowledging FY26 is shaping as a transitional year for Findi, it thinks all emerging market stories ultimately need investor patience, together with a focus on the bigger picture. 

In our view, FND's underlying operating momentum remains strong (highlighted by operating revenue being expected to increase ~+60% in FY26), whilst the company's IPO of its Indian operating business remains a unique near-term catalyst.

Based on the revised price target, the broker still sees long term upside of 154.38%. 

Pantoro

This small-cap ASX stock has had a very different year compared to Findi. 

Pantoro shares have flown 238.06% year to date. 

It is a gold producer and exploration company based in Western Australia.

The team at Morgans seems to believe the bull run is ending for this gold stock. 

It has trimmed its price target to $5.02 (previously $5.92). 

Based on this target, it seems this small-cap stock is now trading slightly above fair value. 

It closed yesterday at $5.24. 

The basis of this trimmed price target was a softer-than-expected operating result for 1Q.

A series of isolated operating issues and underground mine sequencing drove lower head-grade and thus lower ounce production and higher unit costs. PNR has reiterated its FY26 guidance. We have adjusted our forecasts to reflect the 1Q miss.

The post Why did Morgans just lower its outlook on two small-cap shares appeared first on The Motley Fool Australia.

In afternoon trade, the ASX All Ords share is up 15% to $4.41.

Why is this ASX All Ords share jumping?

Investors have been scrambling to buy the India-focused payments company today after it made a big announcement.

According to the release, Findi has selected DAM Capital Advisors and Ambit Private as book running lead managers for the initial public offering (IPO) of its Indian subsidiary, Transaction Solutions International (TSI).

The release notes that DAM Capital is a leading Indian investment bank with extensive experience in capital markets transactions. This includes with IPOs for high-growth technology and financial services companies.

Management notes that this is a major step forward in the IPO process, which remains on track for the second half of calendar 2026. The current indicated IPO valuation range for TSI is INR 4,000 – 5,112 Cr (A$727 million to A$926 million) pre money.

Commenting on the appointment, the ASX All Ords share's executive chair, Nicholas Smedley, said:

The selection of DAM Capital and Ambit Private Limited as Book Running Lead Manager for the IPO of TSI is an important milestone in our strategy to bring TSI to the public markets in India and unlock value for Findi shareholders. DAM's deep market expertise and proven execution capability make it the ideal partner to guide the IPO process in India.

Ambit will provide us with full support during the IPO as well as continued backing post-IPO with investor engagement, block execution, and strategic advisory.

The managing director and CEO of DAM Capital, Dharmesh Mehta, appears optimistic on the prospects of the TSI IPO. He said:

We are privileged to be appointed as Left Lead Banker for the upcoming TSI IPO. Findi is a leading transaction banking services provider, at the forefront of integrating cash and digital economies. Our team will drive end-to-end execution to ensure an optimal outcome for all stakeholders.

IPO plan

As mentioned above, the IPO of TSI is currently targeted for completion by the end of calendar year 2026.

Management notes that this timeline aligns with Findi's strategic roadmap to unlock shareholder value following the integration of recent acquisitions and the continued scaling of its payments and ATM businesses in India.

Following today's gain, Findi shares are now up by 5% since this time last year.

The post This ASX All Ords share is jumping 15% on big news appeared first on The Motley Fool Australia.

Four ASX shares that are rising more than most today are listed below. Here's why they are climbing:

Alliance Aviation Services Ltd (ASX: AQZ)

The Alliance Aviation share price is up 8% to $2.33. This morning, this aviation services company announced a binding sale and purchase agreement with Beautech Power Systems for the sale of 12 General Electric CF34-10 engines. The total consideration for this transaction is approximately $62.3 million, with the final amount subject to standard adjustments for delivery conditions and exchange rates. Management notes that the sale of these engines will lead to a significant reduction in the net debt position of the company.

Cogstate Ltd (ASX: CGS)

The Cogstate share price is up almost 10% to $1.48. The catalyst for this has been the release of an update on the neuroscience technology company's guidance for FY 2025. Thanks to a stronger than expected finish to the year, Cogstate now expects its revenue to be between US$52 million and US$54 million in FY 2025. This represents a 20% to 24% increase over the previous year. Growing at an even quicker rate is the company's profit. Management advised that profit before tax is forecast in the range of US$12 million to US$14 million. This is a significant improvement of 69% to 97% compared to FY 2024.

Collins Foods Ltd (ASX: CKF)

The Collins Foods share price is up 19% to $8.64. Investors have been buying this KFC restaurant operator's shares after it released its full year results for FY 2025. Collins Foods reported a 2.1% increase in sales to $1,519.5 million but a 14.8% decline in underlying net profit after tax to $51.1 million. Nevertheless, the latter was comfortably ahead of the $44.3 million that analysts at Macquarie were expecting. Looking ahead, the company revealed that it is targeting year-on-year group underlying net profit after tax growth in the low to mid-teens in FY 2026.

Findi Ltd (ASX: FND)

The Findi share price is up 11% to $4.25. This morning, this payments company announced that it has selected DAM Capital Advisors and Ambit Private as book running lead managers for the initial public offering (IPO) of its Indian subsidiary, Transaction Solutions International. Findi's executive chairman, Nicholas Smedley, said: "The selection of DAM Capital and Ambit Private Limited as Book Running Lead Manager for the IPO of TSI is an important milestone in our strategy to bring TSI to the public markets in India and unlock value for Findi shareholders."

The post Why Alliance Aviation, Cogstate, Collins Foods, and Findi shares are roaring higher today appeared first on The Motley Fool Australia.

After all, the potential returns on offer at the small side of the market are much greater than at the large cap side.

But which small cap ASX shares could be buys for investors? Let's take a look at two that analysts at Morgans are bullish on. Here's what they are recommending:

Findi Ltd (ASX: FND)

This India-focused payments company could be a small cap ASX share to buy according to Morgans.

It was relatively pleased with its recent FY 2025 results and believes the company is well-placed for growth over the long term. Particularly given the company's overall build out. It said:

FND's FY25 revenue beat guidance expectations (A$75m vs A$68m to A$70m)., whilst reported EBITDA came in at the mid-point of guidance (A$30m-A$32m). We saw this as a somewhat mixed result. While the headline numbers faired well versus guidance parameters they were assisted by higher "other income."

More positively F25 Operating cashflow generation was strong and FND's India IPO remains on track. We lower our FND FY26F/FY27F EPS by >10% off low bases. […] We think FND management are executing well on the company's overall build out, and with significant upside potential existing to our price target, we maintain our ADD call.

Morgans has an add rating and $7.55 price target on its shares. This suggests that upside of 100% is possible from current levels.

Imricor Medical Systems Inc (ASX: IMR)

Another small cap ASX share that could be a buy according to the broker is Imricor Medical Systems. It is a developer of innovative MRI-compatible medical devices.

The broker was pleased to see that its NorthStar Mapping System has been approved in Europe. Combined with other approvals, it expects its sales to grow at a solid rate in the coming quarters. It said:

IMR has announced approval for its NorthStar Mapping System in Europe. This is a major milestone for the company. We view the mapping system as a key component of its product offering and together with recent other approvals will drive a higher level of sales over subsequent quarters. IMR is well capitalised following the recent capital raising.

We have made no changes to our forecasts and valuation. Our target price remains unchanged at A$2.28. With recent products approved, growing clinician as well as investor interest, and a solid financial position, IMR is one of our key picks in the emerging healthcare sector. We maintain our SPECULATIVE BUY recommendation.

Morgans has a speculative buy rating and $2.28 price target on its shares. This implies potential upside of 44% for investors over the next 12 months.

The post Morgans says these small cap ASX shares can rise 40% to 100% appeared first on The Motley Fool Australia.

Here's why the broker is tipping them as buys this month:

Findi Ltd (ASX: FND)

The team at Morgans is bullish on India-focused payments company Findi.

While it felt its FY 2025 results were a bit of a mixed bag, Morgans remains positive on the company's outlook and has reaffirmed its add rating on its shares with a trimmed price target of $7.55. Based on its current share price of $4.09, this suggests that upside of over 80% is possible between now and this time next year.

Commenting on the ASX stock, the broker said:

FND's FY25 revenue beat guidance expectations (A$75m vs A$68m to A$70m)., whilst reported EBITDA came in at the mid-point of guidance (A$30m-A$32m). We saw this as a somewhat mixed result. While the headline numbers faired well versus guidance parameters they were assisted by higher "other income."

More positively F25 Operating cashflow generation was strong and FND's India IPO remains on track. We lower our FND FY26F/FY27F EPS by >10% off low bases. Our target price falls to A$7.55 (previously A$8.35) on our earnings changes. We think FND management are executing well on the company's overall build out, and with significant upside potential existing to our price target, we maintain our ADD call.

Treasury Wine Estates Ltd (ASX: TWE)

Another ASX stock that gets the thumbs up from Morgans is wine giant Treasury Wine.

This is despite the Penfolds owner downgrading its earnings guidance due to softer than expected sales in the US states.

Morgans continues to believe that its shares are too cheap to ignore at current levels and has retained its add rating with a price target of $11.06. This implies potential upside of 33% for investors. It said:

A deceleration of US Premium wine sales (particularly 19 Crimes) below US$15 per bottle, has seen TWE revise its FY25 EBITS guidance. The downgrade was minor at 1.3% and better than feared. TWE's Luxury portfolios appear to be performing well. However, focus is now on what impact a change in distributor in TWE's key US market, declining Premium US wine sales and the tariffs will have on FY26. We have revised our forecasts.

While not without risk given industry and macro headwinds, TWE's trading multiples look far too cheap (FY25 PE of only 14.2x) and we maintain a BUY rating.

The post Morgans says these ASX stocks can rise 30% to 80% appeared first on The Motley Fool Australia.

Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are falling:

Brainchip Holdings Ltd (ASX: BRN)

The Brainchip share price is down 3.5% to 20.75 cents. This is despite there being no news out of the struggling semiconductor company. Though, it is worth noting that earlier this week the company reported more insider selling.  According to change of director interests notices, Antonio Viana sold 130,000 Brainchip shares for a total of $27,950 and Pia Turcinov sold 175,331 Brainchip shares for a total of $37,696.17.

Findi Ltd (ASX: FND)

The Findi share price is down 9% to $4.59. Investors have been selling this payments company's shares following the release of its full year results. Findi reported a 13.5% increase in revenue to a record of $75.5 million and a 14.4% lift in EBITDA to $31.4 million. The latter was in the middle of its guidance range. Management advised that this reflects the strong performance of the core ATM business and continued growth of FindiPay's merchant network. Judging by the share price reaction, the market was expecting stronger growth from the India-focused company.

Lottery Corporation Ltd (ASX: TLC)

The Lottery Corporation share price is down almost 4% to $5.16. This appears to have been driven by the release of a broker note out of Morgans this morning. According to the note, the broker has downgraded the lotteries company's shares to a hold rating with a trimmed price target of $5.50. Morgans made the move in response to lower jackpot activity. In addition, it highlights that its shares have rallied strongly from recent lows.

REA Group Ltd (ASX: REA)

The REA Group share price is down 2.5% to $240.30. This property listings giant's shares have come under pressure this week after the ACCC launched an investigation. The company stated: "REA confirms that it has received a s155 Notice from the ACCC, requiring REA to provide information regarding certain subscription offerings." It then adds: "REA is committed to providing choice, value and flexibility to its customers and consumers, and remains focussed on delivering products and services that improve the property experience of buyers, sellers and renters. The value that REA provides is underpinned by the 12.3 million people who visited realestate.com.au each month on average in the March quarter, with 6.4 million exclusively using realestate.com.au."

The post Why Brainchip, Findi, Lottery Corp, and REA shares are falling today appeared first on The Motley Fool Australia.

Shares in the rapidly growing payments company have been on ice since Tuesday after it announced a capital raise to fund its growth operations.

They are set to resume trading today.

Zooming in, the stock is down nearly 19% in the past month as the broad market trends lower. Let's dive into the details.

What's the deal with this payments company?

As The Australian Financial Review reported yesterday, the payments company launched a share placement to raise $45 million to fund its growth and restructure its debt.

The capital raise was split into two parts: a $40 million share placement and a $5 million share purchase plan.

Priced at $4 per share, the placement represents a 12.3% discount to Findi's last closing price.

According to the term sheet, the company plans to use the funds raised for its expansion in India, including for deploying nearly 2,300 ATMs in the region.

The financing will also settle its convertible debt with Indian-based Piramal Alternatives. The fundie is owed about $17 million as part of the deal.

The deal comes on the back of a solid year for the payments company. This comes after completing the acquisition of Tata Communications Payment Solutions (TCPSL) Indiacash business for $75 million last November.

What else has Findi been up to?

It may be under the radar, but Findi has been one busy little payments company of late.

Findi's main business is setting up and running ATMs for major Indian banks. The capital raised will help fund the deployment of over 2,000 new ATMs under an agreement with the State Bank of India.

This comes as Findi announced this week that the National Payments Corporation of India (NPCI) approved an "increase of ATM interchange fees for domestic financial and non-financial transactions".

This is expected to add another $5.5 million to the company's net profit in FY26 and FY27.

According to Findi chairman Nicholas Smedley, the company is "pleased" with the result.

We are pleased that the RBI has taken this step with the. interchange rate which will enable Findi to further drive financial inclusion across India. Our increased cash flow will be put towards new capex and accelerating the roll out of recent contract wins.

Foolish takeaway

This payments company is aggressively expanding via its growth strategy. It has just raised $45 million to finance its growth plans and wipe some debt off its balance sheet.

Zooming out, Findi is up more than 72% in the past year, reaching a peak of $8 apiece in November last year.

The post Undercover surging payments company announces $45 million capital raise appeared first on The Motley Fool Australia.

Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are falling:

Findi Ltd (ASX: FND)

The Findi share price is down a further 10% to $5.31. Investors have been selling this India-focused digital payments and financial services provider's shares since the release of its half year results last week. Findi reported a 6.6% increase in revenue to $33.9 million and a 2.4% lift in EBITDA to $12.9 million. This means a very big second half will be required to achieve its full year guidance for revenue in the range of $80 million to $90 million and EBITDA in the range of $30 million to $35 million.

GQG Partners Inc (ASX: GQG)

The GQG Partners share price is down 12% to $2.07. This is despite there being no news out of the fund manager today. However, it is worth noting that its shares have been incredibly volatile in recent weeks due to its investments in the Adani Group. Morgans recently warned: "[G]iven the relatively high profile nature of GQG's exposure, there is some reputation risk GQG needs to manage. This along with the impact on near-term investment performance (EM fund), fund flows may come under some pressure/question."

Netwealth Group Ltd (ASX: NWL)

The Netwealth Group share price is down 3% to $29.85. Investors have been selling the investment platform provider's shares following the release of a business update. Netwealth revealed that it has achieved a major milestone, exceeding $100 billion funds under administration (FUA) on its 25th Anniversary. Total FUA net inflows for FY 2025 year-to-date are now $6.6 billion with positive market movement of $5.6 billion. It seems that the market was expecting even stronger growth.

Northern Star Resources Ltd (ASX: NST)

The Northern Star share price is down almost 6% to $16.51. This follows news that the gold miner has agreed to acquire gold developer De Grey Mining Limited (ASX: DEG) in a deal valued at $5 billion. Northern Star's CEO, Stuart Tonkin, said: "The acquisition of De Grey is strongly aligned with Northern Star's strategy and contributes to our purpose of generating superior returns for shareholders. De Grey's Hemi development project will deliver a low-cost, long-life and large-scale gold mine in the Tier-1 jurisdiction of Western Australia, enhancing the quality of Northern Star's asset portfolio to generate cash earnings."

The post Why Findi, GQG, Netwealth, and Northern Star shares are tumbling today appeared first on The Motley Fool Australia.

Four ASX shares that are falling more than most today are listed below. Here's why they are dropping:

Ampol Ltd (ASX: ALD)

The Ampol share price is down almost 2% to $29.04. This morning, the fuel retailer revealed that previously announced repairs to the Fluidised Catalytic Cracking Unit (FCCU) regenerator during November are now complete. As a result, the FCCU is moving into the start up process and total production for 2024 is expected be approximately 5.2 billion litres. It also revealed that trading during the fourth quarter has been largely consistent with commentary provided previously.

Findi Ltd (ASX: FND)

The Findi share price is down 21% to $6.11. This follows the release of the India-focused digital payments and financial services provider's half year results. Findi reported a 6.6% increase in revenue to $33.9 million and a 2.4% lift in EBITDA to $12.9 million. And while management has reaffirmed its full year guidance, investors appear concerned that it may not be able to achieve it. Findi is guiding to full year revenue in the range of $80 million to $90 million and EBITDA in the range of $30 million to $35 million. Management expects new agreements to drive very strong second half growth.

Humm Group Ltd (ASX: HUM)

The Humm Group share price is down a further 3.5% to 65.7 cents. Investors have been selling this financial services company's shares since the release of its annual general meeting update. Management said: "Consumers and SME businesses in Australia and New Zealand continue to be affected by inflation and cost of living pressures, with geo-political pressures hanging over the global economy."

Star Entertainment Group Ltd (ASX: SGR)

The Star Entertainment share price is down 2.5% to 19 cents. This appears to have been driven by a broker note out of Macquarie today. According to the note, the broker has downgraded the casino and resorts operator's shares to an underperform rating with a reduced price target of 20 cents. This follows the release of the company's annual general meeting earlier this week. In response to the update, the broker believes that the near term could be challenging for Star Entertainment. Particularly given its precarious balance sheet and the tough operating conditions it is experiencing at present.

The post Why Ampol, Findi, Humm, and Star Entertainment shares are dropping today appeared first on The Motley Fool Australia.

In morning trade, the ASX small cap stock is down 19% to $6.25.

Though, shareholders of the India-focused digital payments and financial services provider won't be too dismayed given that its shares remain up 500% year to date.

Why is this ASX small cap stock crashing today?

Investors have been hitting the sell button today after Findi released its half year results.

For the six months ended 30 September, the ASX small cap stock reported revenue of $33.9 million and EBITDA of $12.9 million. This represents modest increases of 6.6% and 2.4%, respectively, over the prior corresponding period.

This result was well short of the run-rate you would expect it to require given its full year guidance, which may explain why its shares are crashing today.

Commenting on the half, the company's executive chair, Nicholas Smedley, said:

Transactions per day, a key performance indicator for our ATM business, were abnormally constrained during the first half of FY25 by the [Indian] general elections that ran for six weeks from 19 April 2024 to 1 June 2024. In addition to travel restrictions and many additional public holidays the general elections involve various measures restricting and regulating cash transactions.

However, Smedley notes that the transaction trends have returned to normal since the elections. He also believes the company is still on track to achieve its guidance in FY 2025. He said:

The transactions per day have trended back to historical norms following the elections. Nonetheless we are firmly on track to deliver on our full-year financial guidance, driven by the State Bank of India (SBI) contract rollout commencing in early December 2024 and the ramp up of Findi-branded White Label ATMs (WLA) expected to commence in the early part of the 2025 calendar year.

Guidance

The ASX small cap stock advised that it continues to expect full year revenue in the range of $80 million to $90 million and EBITDA in the range of $30 million to $35 million.

The company notes that its revenue and EBITDA growth in the second half are expected to be driven by the new 10-year agreement with SBI and the deployment of White Label ATMs under the transferred TCPSL licence.

It also reminds investors that revenue and EBITDA are traditionally weighted to the second half of the financial year. This trend is magnified this year with SBI and WLA due to commence in the second half.

The post This ASX small-cap stock is up 500% in 2024. Here's why it just crashed appeared first on The Motley Fool Australia.

The company advised of an acquisition that promises to ramp up its cash flows and earnings in India. Investors have bid the stock higher as they digest the news.

Zooming out, shares in the payments company have climbed more than 640% this year to date (yes, you read that correctly), with a 50% advance in the last month alone. Let's dive in.

ASX small-cap stock continues expansion

The ASX small-cap stock announced today it has entered a binding deal with Tata Communications Payment Solutions (TCPSL).

Findi will acquire TCPSL's Indicash business in a transaction worth around AUD$75 million. This move marks another step in the company's expansion, adding more than 4,600 operating ATMs to its network across India, with an additional 3,000 ready for deployment.

As part of the Acquisition India's first White Label ATM integrated payment switch is transferring to Findi. Findi's own in-house payment certified switch provides Findi with direct access to all debit and credit card banking facilities across all banks in India.

The payments platform/switch will enable Findi to connect directly with all integrated payments devices like Micro- ATMs, bometric payment devices and UPI based cash withdrawals.

Owning our own payments switch will remove the current cost of utilsing a third party switch and enable Findi to immediately and efficiently expand our co-located ecosystem between our own Findi branded ATMs and our Findipay merchant businesses.

Findi Executive Chairman Nicholas Smedley highlighted the acquisition's strategic importance, saying it showed the company's "strategic growth momentum".

The Acquisition of TCPSL brings scale to Findi by immediately expanding our penetration into new semi-urban and rural regions. Cash accessibility continues to be of critical importance to our customers, and as one of the largest White Label ATM operators in India and the second largest in semi-urban and rural geographies, TCPSL's extensive network of ATMs allows Findi to deliver that service to the most remote parts of the country

This could be a positive for the ASX small-cap stock moving forward.

What about the financials?

According to management, the deal is expected to benefit Findi's cash earnings.

Management projects the deal to contribute revenues of $28 million to $30 million and a net profit of $2 million to $4 million by FY26. It will pay the transaction with cash from its balance sheet.

The acquisition's initial net cash consideration will be AUD$23.9 million, with an additional contingent payment potentially required if the Reserve Bank of India (RBI) approves an increase in ATM interchange fees within 90 days.

TCPSL's cash balance of AUD$51.1 million will remain on Findi's books, alongside several tax benefits worth approximately AU $32.9 million.

Management shifts

As part of the acquisition, the ASX small-cap stock announced a key management change. Deepak Verma, who previously served as CFO, has been promoted to CEO and Managing Director of Transaction Solutions International (India) Pvt Ltd (TSI).

This is Findi's subsidiary managing its Indian operations.

Meanwhile, Mohnish Kumar, formerly CEO, transitions to the role of Vice Chairman.

According to Smedley, Verma's leadership in the TCPSL acquisition positions him well to lead the company's next growth phase.

Deepak has fostered a culture of operational and commercial excellence in the organisation and led the Acquisition of TCPSL while developing the strategy for its integration into the business. Further, he has extensive experience in both operations and finance which make him the ideal person to drive the next stage of growth for the business.

ASX small-cap stock takeout

With the acquisition of TCPSL's ATM business, Findi has taken another step toward expanding its market share.

It continues to grow its footprint in financial services, payments and fintech in the region.

The ASX small-cap stock is up more than 593% these past 12 months, providing a substantial advantage over the broader market.

The post Which ASX small-cap stock is leaping 13% by doubling down on access to cash appeared first on The Motley Fool Australia.

What Vortiv does

Vortiv is a technology company involved in IT management services. Currently, it owns Cloudten Industries and Decipher Works which provide IT and cyber security services for many large firms in Australia. Although this situation looks set to change as discussed further below.

The company also holds a 24.89% interest in TSI India. This is a company that provides solutions in the payments, electronic surveillance and managed services spaces. TSI India owns and manages around 14,000 ATMs in India.

What's moving the Vortiv share price?

Investors are today driving the Vortiv share price higher after the company announced it has achieved its targeted financial results for the quarter. In doing so, Vortiv achieved revenue of $3.2 million, which was up 45% compared to the prior corresponding period. This result was on the upper end of the company's expectations.

Furthermore, Vortiv's earnings before interest and tax (EBIT) came in at $0.43 million. This represented the seventh straight quarter that the company has been EBIT positive.

In terms of new business opportunities, Vortiv announced it had won approximately $2.9 million during the quarter. This included contracts with existing and new clients.

Sale of cybersecurity business

It was recently announced that Vortiv is planning to sell its cybersecurity businesses (Cloudten and Decipher) for a cash consideration of $25 million. The proposed transaction is subject to shareholder approval, but with the board's backing, the transaction is expected to be completed in December.

In addition, the company is finalising the application for a proposed buyback to return approximately $20 million to shareholders. After the sale, Vortiv intends to remain an ASX listed company with interest in TSI India.

The post Vortiv (ASX:VOR) share price up 6% on quarterly update appeared first on The Motley Fool Australia.