Shares of Swoop Holdings Rise After it Backs Vonex Takeover Proposal

MT Newswires Live

2025/07/07

Shares of Swoop Holdings (ASX:SWP) rose in recent Monday trade after it said in a late Friday filing that it will support the AU$0.036 per share takeover of Vonex (ASX:VN8) by Maxo Telecommunications, paving the way for an around AU$6.2 million cash exit from its investment.

The company's shares were up over 14% in recent trade.

Swoop holds a 22.8% stake in Vonex via its subsidiary and plans to vote in favor of the scheme, provided no superior proposal emerges, the filing said

The company said the move will allow it to streamline its portfolio and reallocate capital toward core growth initiatives and potential strategic acquisitions, the filing added.

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