Net1 Applied Technologies to exit MobiKwik via block deal: Report; stock surges over 12%
Shares of One MobiKwik Systems Ltd, the parent company of the payments solutions provider MobiKwik, gained 12.7 per cent at 11:00 am on Thursday to a trading price of Rs 277.25 on reports of Net1 Applied Technologies Netherlands BV selling its entire 8 per cent stake in the company.
On Wednesday, a CNBC TV18 report citing sources said that Net1 Applied Technologies Netherlands BV which is a subsidiary of South Africa’s Net1 UEPS Technologies, is likely to sell its entire 8 per cent stake in One Mobikwik Systems Ltd via block deals scheduled for Thursday.
