BUZZ-Telix Pharma shares rebound after ITM trading triggers sell-off; Citi backs its share issuance

September 22 - ** Telix Pharmaceuticals (TLX.AX) shares rose as much as 6.8% to AUD 16.83, posting the largest intraday gain since September 15

** The company's shares fell 11.7% on Monday after it (link) agreed to acquire Germany-based ITM Isotope Technologies Munich SE for about USD 1.65 billion (on a cash-free, debt-free basis)

** However, Citi believes ITM’s isotope supply business is sufficient to support the upfront equity issuance and debt financing for this acquisition

** It adds that ITM is recognized globally as a carrier-free lutetium supplier, with the material being used in products like Novartis's Pluvicto

** The brokerage considers the deal strategically significant amid the current environment of both horizontal and vertical market consolidation

** So far this year, TLX shares have gained 46.5%

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