GenusPlus Group Ltd's stock surged 5.13% intraday following the company's announcement of a major acquisition and associated capital raising.
The company revealed plans to acquire MPC Kinetic, funded through a A$200 million placement. The new shares are being offered at A$9.25 each, representing a 5% discount to the stock's last closing price.
This strategic move to expand through acquisition, combined with the capital raising activity, appears to have generated positive market sentiment, driving the share price higher during Wednesday's trading session.
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