BUZZ-Ebix sinks on filing for chapter 11 bankruptcy

Reuters2023-12-18

** Shares of Ebix slump 49.1% to $2.5 premarket

** The software solutions firm files for Chapter 11 bankruptcy protection in North Texas court- court filing

** Says subsidiaries and advisors "authorized to conduct a fulsome marketing and sale process"

** Several subsidiaries of EBIX also file for bankruptcy protection

** Co lists both estimated assets and liabilities in range of $500 mln-$1 bln

** In June 2022, short seller Hindenburg Research called co's plans for the public listing of its Indian unit - EbixCash - a "race against the solvency clock" and expected plan to fail

**Co received India IPO clearance in April

** Stock down ~75% YTD, up to last close

(Reporting by Harshita Mary Varghese)

((HarshitaMary.Varghese@thomsonreuters.com))

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