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      What Drove MBHCF Stock Up 21%? - Stocks Telegraph

      By ST Staff

      Published on

      May 20, 2021

      9:07 AM UTC

      Last Updated on

      July 15, 2021

      9:09 AM UTC

      What Drove MBHCF Stock Up 21%? - Stocks Telegraph

      Stock of MBH Corporation PLC (OTCQX: MBHCF) gained 21.50% or $0.069 in Wednesday’s trading session, closing the day at $0.39 a share. MBH stock 52-week low has now moved to $0.281 with the MBHCF stock 52-week high at $0.722 per share. Recent developments in MBH may shed light on the company, since MBHCF stock rose despite a lack of recent news.

      Is there anything new that happened recently?

      MBH Corporation is a publicly listed investment company, both on the Frankfurt and Düsseldorf stock exchanges. MBHCF acquires well-established, profitable, and highly scalable small-to-medium enterprises in a number of geographical areas and sectors. By pursuing the Agglomeration strategy, MBHCF is able to create substantial shareholder value through the acquisition of exceptional companies.

      MBH Corporation announced its latest acquisition of Intercity Taxis this month, which becomes the fourth company in its transportation vertical.

      • There are over 150 drivers for Intercity’s fleet of 120 taxis and the company has been in business for over 40 years.
      • A large portion of the company’s business comes from Staffordshire County Council, and the company also provides school run services to several other local authorities.
      • Although Intercity Taxis has a long history, it has continued to innovate and recently embraced the iCabbi mobile app, web booker and interactive voice response systems to provide customers the ability to book a taxi quickly in many different ways.
      • The year ending 31 May 2020 saw revenue of GBP 2.1 million and normalized EBIT of GBP 0.5 million for Intercity Taxis.

      How MBHCF will settle the deal?

      It is estimated that the acquisition of Intercity will cost approximately GBP 3-4m, mostly in the form of an MBHCF listed bond. The bond will be issued with 5-year of maturity period with Principal to be paid at the end of tenor and semiannual payment at the coupon rate of 5% per annum. MBHCF acquired Intercity Taxis as a tactical acquisition and will merge it with Take Me (formerly ADT Taxis) as part of their transportation vertical.

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