Finablr Jumps as Currency-Exchange Firm Is Said to Weigh Options - Bloomberg

Finablr Jumps as Currency-Exchange Firm Is Said to Weigh Options - Bloomberg:

Finablr Plc, the owner of currency-exchange businesses including Travelex Holdings Ltd., jumped the most in three weeks after people familiar with the matter said the company is considering strategic options.

Shares of Finablr rose as much as 10.8% in Friday morning trading, bucking four days of declines. They were up 6% at 9:26 a.m. in London, giving the company a market value of 306 million pounds ($397 million). Finablr’s board plans to meet in the next few days to discuss alternatives for the company including bringing in new investors, according to the people.

Another possibility that could be considered is whether to pursue a take-private transaction, the people said, asking not to be identified because the information is private. Finablr’s stock has been battered because of its ties to troubled hospital operator NMC Health Plc.

Finablr founder Bavaguthu Raghuram Shetty and other executives are seeking to restore confidence after the company’s shares plunged almost 80% through Thursday. Its market value has fallen from a peak of about 1.5 billion pounds in December.