Gfinity shares surge 20% on progress review

Gfinity shares (LON: GFIN) soared on Friday’s opening bell as the group embarked on a strategic review that may include a sale of the business.

The company released a progress update where Gfinity said it was well-positioned considerable corporate and strategic development.

“The board of Gfinity remains highly confident in the prospects and position of the company, especially as market dynamics are rapidly, and permanently, changing in favour of the group’s offering,” said the media group in a statement.

“Given this, while the board believes that the company can continue on its current pathway towards profitability it believes, at this point in time, that it is important to all its stakeholders to ensure that it has explored all strategic options to capitalise on the potential market opportunity and to deliver shareholder value, including options for making acquisitions, forming partnerships, separating the activities of the Group or a potential sale of the company,” added Gfinity.

Gfinity shares (LON: GFIN) are currently trading 20.90% higher at 4,05 (1014GMT).

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Safiya Bashir
Safiya focuses on business and political stories for UK Investor Magazine. Her interests include international development, travel and politics.