GHL share price jumps 11.32% on news to acquire Paysys

PETALING JAYA:GHL Systems Bhd's share price jumped 12 sen or 11.32% this morning, following its plans to buy the entire stake in Paysys (M) Sdn Bhd, a company specialising in credit card payment equipments and solutions for up to RM80 million.
At 11.30am, the stock stood at RM1.18 with 530,600 shares changing hands, giving it a market capitalisation of RM723 million.
GHL said the acquisition would allow the group and its subsidiaries to solidify their presence as a payment solutions provider in Malaysia.
It is also in line with the group's strategy to increase their market share in the transaction payment acquisition industry.
The proposed acquisition is expected to contribute positively to the group's earnings and earning per share for FY18.