: Ebix stock rises as asset sale generates interest from ‘multiple bidders’

Ebix Inc. EBIX stock is up 3.7% in premarket trades on Thursday after the on-demand software company for the insurance, financial, healthcare and online learning sectors said it’s in “advanced stages” in the sale of part of its assets. The company said the deal will generate enough proceeds to repay 100% of its bank debt. Ebix said it has, “received bids from a mix of strategic and financial bidders who have already completed substantial due diligence.” It’s also progressing with its plan to complete an initial public offering (IPO) of its EbixCash unit in India. It plans to announce an IPO listing date publicly “as soon as it has the requisite approvals in place,” the company said.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.