Touchstar Shares Rise Amid Sale Assessment

September 26, 2024 04:57 PM CEST | By Team Kalkine Media
 Touchstar Shares Rise Amid Sale Assessment
Image source: shutterstock

Highlights

●     Touchstar PLC shares rise by up to 10% following news of a strategic review that may lead to a sale.

●     The review will consider various options, including potential business or asset sales.

●     The company remains optimistic about its growth potential and cash generation capabilities.

Overview

Shares in Touchstar PLC (LSE:TST) experienced a notable increase of up to 10% in morning trading after the announcement of a strategic review aimed at enhancing shareholder value. This review will assess a range of options, including the potential sale of the business, its assets, or other related transactions.

Touchstar, a provider of mobile data computing solutions operating across multiple industrial sectors, has previously received informal inquiries regarding mergers and sales. However, the Board has decided to evaluate these opportunities in a more structured manner.

While Touchstar is not currently engaged in discussions with any prospective buyers, the company has expressed optimism about its growth potential and strong cash-generation capabilities. This positive outlook may serve to attract further interest from potential investors or buyers as the strategic review progresses.

After the initial surge in share price, Touchstar’s stock settled at 105p, reflecting ongoing investor interest in the company’s future direction.


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