Author: Harry Watt
PNI -5.6%: back trading today after raising $105m to take a stake in a Private Equity fund manager. The raise was done at $16.70/sh, what was a 4.6% discount to the previous close however the market made light work of that price this morning.
BAP -9.58%: the auto parts and servicing business announced the CEO Darryl Abotomey will retire in February next year, sending the stock plummeting. Darryl has led Bapcor for the last 10 years including through its IPO in 2014 and the successful push into the Asian market.
NIC +7.98%: the nickel pig iron producer announced a new agreement with partner Shanghai Decent to boost production and reduce carbon footprint, as well as participate in the production of battery grade nickel.
RRL -3.29%: Hosted its first exploration update today and they’ve committed to doing these twice a year to improve communication with the market, the crux of it being they don’t think investors fully understand what they are sitting on.
CWN +16.57%: received another takeover bid today from its 2nd largest shareholder behind JP, namely Blackstone. This is now the 3rd time Blackstone have approached CWN and have now upped their offer to $12.50 cash, valuing the company at about $8.5 billion.
CAJ +7.25%: the diagnostic imaging company hosted their AGM today with a solid performance update which helped the stock higher. Capitol Health has seen revenue up 6.3% in the first 4 months on the year when compared to the same period pre-CVOID in FY19.
IPL +3.85%: Shares in the fertilizer & explosives business shot out of the range today, trading to 24 month highs early before giving up most of the gains. The FY21 result was out this morning which saw adjusted EBIT rise 51% to $566m
NTO -2.81%: returned to trading today after successfully completing a capital raise to fund an acquisition. NTO is raising $140m at $3.43/sh through a placement and a 1 for 11.4 entitlement offer, a 10.7% discount to Tuesday’s close.
XRO -6.22%: first half result for the accounting software business was a bit light on. They swung into a loss of $NZ5.9m vs a $NZ34.5m profit in 1H21, despite growing revenue 23% and gross margins expanding 1.4% to 87.1%.
NCM -1.58%: the gold miner has been given its blessing to buy Canadian listed Pretium (PVG.TSX) by their board in a $2.8b deal. Newcrest have offered Pretium shareholders either $CA18.50/sh or 0.8084 NCM shares for each PVG held
