Shares in Safestay plc jumped 100% in one day after news broke of a potential takeover.
Real estate investment firm Infill Capital Partners revealed that it is considering a £40.9 million take-private move for the platform for booking hotels and hostels.
The deal may include a cash offer and an unlisted share alternative.
Safestay says it has provided ICP with access to limited due diligence materials and discussions remain ongoing. No firm offer has been made.
From a standing position of 13.5 pence this morning, it reached 35p by late morning and finished the day at 27p – 100% up and with a market cap of £17.5m.
It follows a drop in share price in recent months, and leaves it 10% up over the last 12 months – the highest level post-COVID.
Founded in 2012, Safestay is headquartered in London.
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