(Adds IFM's response)
Aug 4 (Reuters) - IFM Global Infrastructure Fund and its related entities have raised their stake in toll road operator Atlas Arteria Group (ALX) , an exchange filing showed on Thursday, a week after the fund manager walked away from a potential buyout deal.
Diamond Infraco, an entity related to IFM, and its associates increased their combined interest in Atlas to 19%, according to a filing with the Australian Securities Exchange.
"IFM is not in discussions with the company and nothing has changed since the public announcement to that effect last week," IFM said in a statement to Reuters. Several large shareholders approached IFM to sell their stakes in Atlas, they said.
IFM had acquired a 15% stake in Atlas and hinted at a potential takeover attempt in early-June, but it said last week that it was not in a position to progress with a deal and ceased discussions.
The 4% additional stake that IFM has since acquired is valued at nearly A$300 million ($208.80 million), based on a last close price of A$7.75. Atlas's valuation stood around A$7.4 billion, based on Wednesday's closing stock price.
Shares of the company surged as much as 5.7% to A$8.19, recording their biggest single-day gain since June 8.
($1 = 1.4368 Australian dollars)
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Last
$5.18 |
Change
0.010(0.19%) |
Mkt cap ! $7.515B |
Open | High | Low | Value | Volume |
$5.20 | $5.25 | $5.17 | $4.941M | 951.7K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
5 | 4036 | $5.18 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$5.19 | 8390 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
5 | 4036 | 5.180 |
3 | 12016 | 5.160 |
2 | 16129 | 5.150 |
1 | 3918 | 5.140 |
2 | 3245 | 5.130 |
Price($) | Vol. | No. |
---|---|---|
5.190 | 8390 | 2 |
5.200 | 12636 | 2 |
5.210 | 8228 | 3 |
5.220 | 12199 | 2 |
5.240 | 7800 | 1 |
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