Tyro Payments, an ASX-listed fintech group, has confirmed it has received unsolicited and non-binding interest from multiple parties regarding a potential acquisition. The company made the disclosure following a trading halt late Tuesday and a price query from the market operator, triggered by a share price surge exceeding 10 per cent. Tyro provides payment solutions and value-added services to Australian businesses. Its platform facilitates various transaction types, aiming to streamline payment processes for merchants.
Tyro stated that while it is open to engaging with offers that deliver sufficient value to its shareholders, the current level of interest does not reflect the board’s assessment of the company’s intrinsic worth. This statement follows the company’s earlier reliance on Listing Rule 3.1A to withhold immediate announcement of information that could explain recent share price movements, which it believed remained confidential.
On Tuesday, prior to the trading halt, Tyro shares rallied 10.5 per cent to reach $1.07. The company acknowledged awareness of undisclosed information that could account for the significant price movement. The market will be watching to see if a formal offer that satisfies the board is eventually made.
