BUZZ-Australia's MA Financial falls after buying IP Generation

Reuters

05-22

BUZZ-Australia's MA Financial falls after buying IP Generation

** MA Financial MAF.AX falls 5.2% to A$6.44; set for biggest intraday pct loss since April 15

** Stock hits lowest since May 12; on track to fall for the second straight session

** Asset manager confirms acquisition of Melbourne-based IP Generation for A$90.4 mln ($58.2 mln)

** On Wednesday, co confirmed media report it is in "advanced discussions" to acquire IP Generation

** YTD, MAF gains 5.4%

($1 = A$1.5530)

(Reporting by Kumar Tanishk in Bengaluru)

((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk;))

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