- OZ Minerals announces an off-market takeover offer to acquire Avanco Resources, subject to 50.1% minimum acceptance condition
- 50/50 cash/scrip consideration, comprising A$0.085 cash and 0.009 OZ Mineral shares per Avanco share, maintains OZ Minerals’ strong balance sheet for further growth
- Cleanaway has entered into a Scheme Implementation Deed to acquire 100% of the shares on issue in Toxfree for $3.425 per share in cash (“Acquisition Price”), representing an equity value of $671 million and an enterprise value of $831 million1 (“Acquisition”)
- Strategically compelling acquisition that strengthens Cleanaway’s existing operating segments, further improves operating leverage and delivers Cleanaway a leading position in the attractive medical waste segment
Logistics software technology company WiseTech Global’s global growth strategy of mixing organic growth with target acquisitions is reaping rewards, with the business growing its net profit by 368 per cent to $14.5 million.
The company made its first acquisition as a public company only a month after listing and since January it has acquired another two companies, the most recent being Italian customs compliance technology company ACO Informatica for $1.65 million.
Australian human resources software company ELMO is eyeing a $40 million float on the Australian Securities Exchange, 15 years after it started its growth in a dimly lit bunker.
When Danny Lessem founded the cloud-based software company in 2002 with co-founder Manuel Garber, ELMO was an e-learning platform and the term “cloud” had yet to enter everyday vernacular.
Tech stocks that listed on the ASX in 2016 have comfortably outshone their counterparts from other sectors, with stronger returns for shareholders in their first year of public life.
A new report from OnMarket BookBuilds, a platform that gives retail investors access to initial public offerings, found there were 25 tech listings in 2016, which delivered a 69.5 per cent return to investors.
Message Media and Soprano Design are continuing to take a cautious approach towards listing on the Australian Securities Exchange.
Both companies placed their float plans on hold last year following the election of Donald Trump as US president, fearing that the markets would become too volatile for the deals to successfully proceed.
Cloud-based human resources company ELMO has hired boutique adviser Blackpeak Capital to consider capital raising initiatives, including an initial public offering.
As revealed by Street Talk on Wednesday, fast-growing ELMO, which snapped up e-learning provider Techniworks Action Learning last month, may seek to raise $40 million. It plans to expand into the United States within the next 12 months.
With large cap fund managers trying to work out the future of Australia’s complex national electricity market and how the $1.5 billion-plus float of Alinta Group will fare, small cap investors also have a bit to chew on.
First out of the block after reporting season is direct insurance business, Freedom Insurance.