Reuters reported that the company’s stock was up by as much as 23 per cent, and was at 19 per cent at 0425 GMT.
That latter mark gave the company a market capitalisation of about A$483m, more than three-times the A$160m Quadrant paid for the company in 2010.
Australian private equity firm Quadrant took only a month to close its seventh fund on A$850m ($759m) earlier this year.
The fund, which was two times oversubscribed by both Australian and foreign investors, follows Quadrant’s sixth fund, which was closed with commitments of A$750m in 2010.
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