The board of AIM-listed payment solutions provider Eckoh PLC (AIM:ECK, OTC:EKTPF) is mulling the sale of the business to a private equity suitor.
In a regulatory filing, Eckoh said it has received “a highly conditional, non-binding revised indicative offer” from an unnamed bidder.
Eckoh made the announcement in response to a swing higher in its AIM-listed shares.
The group revealed that it has been weighing up options for the future of the business since late last year based on the belief “that the share price did not reflect the fundamental value of the business”.
The potential offeror has tabled a 54p-per-share offer for Eckoh, representing a roughly 25% premium prior to the recent bout of volatility.
Eckoh shares added another 3% in opening Thursday trades, bringing the stock 14.5% higher week on week to 49.9p.