Smartpay shares soar to 2-year high as Milford Asset bets on potential

Mon, 07 Oct 2013

Oct. 8 (BusinessDesk) – Smartpay shares have jumped to a two-year high after fund manager Milford Asset Management disclosed a 6.3 percent stake in a bet on the potential for the restructured eftpos company to repeat its New Zealand success in Australia. SmartPay climbed as much as 2.6 percent to 39 cents, the highest since July 2011, having soared 23 percent yesterday. The company has transformed itself in the past two years, recapitalising its debt and equity, replacing three of its four directors, installing a new managing director, acqu...

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