Financial software and services company Bravura Solutions has confirmed it is in talks with a number of suitors over a possible takeover of the company.
BVA shares jumped 14.29% to $0.240 in Tuesday's trading following the announcement.
The company said it had received “several” indicative bids to completely acquire its issued share capital.
But each of the bids are preliminary, conditional, non-binding and incomplete, and there is no guarantee that any of the bids will result in a binding offer, Bravura added.
In December, Bravura had appointed Macquarie Capital Advisers to assist in assessing those unsolicited proposals it had received to date.
A statement released by Bravura's board said the company was confirming the bids in response to “media speculation.”
But the board added that it had no intention of making any further announcement unless a binding proposal is received.