Telix Pharma rises after ITM deal selloff; Citi backs share issuance

** Shares of Telix Pharmaceuticals TLX.AX rise as much as 6.8% to A$16.83, their biggest intraday pct gain since September 15

** Shares down 11.7% on Monday after company agreed to buy Germany-based ITM Isotope Technologies Munich SE for about $1.65 billion on a cash- and debt-free basis

** Citi, however, thinks ITM's isotope supply business justifies upfront equity issuance, including debt

** Adds ITM is an established global supplier of non-carrier added Lutetium, which is used in products such as Novartis' Pluvicto

** Brokerage sees deal as strategic in a marketplace undergoing some horizontal and vertical consolidation

**YTD, TLX shares up 46.5%