MobilityOne Ltd () shares were highly mobile in Wednesday afternoon trading, skyrocketing almost 1,200% from 4.5p to above 58p after winning a contract with US money transfer giant MoneyGram Payment Systems.
The AIM-listed, Malaysia-headquartered ecommerce infrastructure specialist’s 50%-owned remittance business, OneTransfer Remittance (OTR), will act as one of MoneyGram’s correspondence remittance companies in Malaysia for an initial five years.
Under the deal, OTR customers will be able to send and receive money via MoneyGram’s global platform which connects to more than 200 countries worldwide, with OTR entitled to a share of the fees generated on money transfer transactions as well as a share of MoneyGram’s foreign exchange profits.
MobilityOne shares have finally topped their 12.5p IPO price, 13 years after coming to AIM.
1.10pm: Melrose wilts
Shares of () wilted 18% to below 100p after the owner of aerospace and automotive engineer decided not to pay a half-year dividend.