Aged care stocks rallied on Friday as Japara Healthcare became the second major company in the past six months to receive a takeover bid.
Prime Minister Scott Morrison at a press conference about Royal Commission into Aged care quality and safety, Final report: Care, Dignity and Respect, at Kirribilli House.
The company’s shares rocketed 25 per cent on the news to as high as $1 in early trade on Friday, before settling 20 per cent up to 96.5¢ just after 1pm. Japara’s ASX-listed peers Regis and Estia also saw gains, with Regis up 6.5 per cent to $2.31 by 1pm, while Estia was 6.4 per cent higher at $2.48.
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