Adapt IT’s debt-busting strategy helps value jump 14%
04 March 2020 - 20:40
Shares in technology company Adapt IT rallied as much as 23% on Wednesday after the company said it was working to reduce its debt and would not have a rights issues.
Following its financial results for the six months to end-December, released last week, the company said on Wednesday it would “prioritise reduction of net interest-bearing debt back to the targeted level of 50% of equity, and as a consequence is suspending all acquisitions until such time”...
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