Insignia denies receiving offer from PE

Insignia Financial has comprehensively denied a newspaper report that it was under offer from private equity.

The reports saw Insignia’s share price spike from $2.20 to $2.50 prompting the Australian Securities Exchange (ASX) to issue the company with a Price Query letter.

Insignia’s formal response to the price query denied that any information existed which could have prompted the share price spike.

Further it said that a suggestion in the newspaper article that it had engaged Citi to field offers from PE interests were false.

“Citi has not been engaged to field any offers and the company is not aware of any offer,” Insignia’s formal response said.