(Reuters) -Monash IVF Group said on Monday it had rejected an offer from a consortium that valued the Australian fertility services provider at A$311.7 million ($201.11 million), sending its shares soaring to a six-month high.

The A$0.80-per-share non-binding offer from private equity firm Genesis Capital Investment Management and WHSP Holdings, a unit of Washington H Soul Pattinson, represented a 31.1% premium to Monash’s Friday close.

Shares of Monash surged 40.2% to A$0.855 in early trade, hitting their highest level since May 19 and heading for their largest single-day rise on record if current gains held.

Monash said the offer price was at a substantial discount to comparable IVF deals in the Australian market while highlighting uncertainty over the consortium’s proposed financing

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