TMF article:
Appen attracts big institutional investmentIt is interesting to note that Appen has attracted some significant institutional investment in recent weeks.This should give ordinary investors confidence in the future of the stock. The big boys don’t invest millions of dollars of their clients’ money in ASX shares they’re not sure about.Let’s take a look at the recent ‘insto’ action.According to an ASX lodgement on Tuesday, Spheria Asset Management has become a substantial holder of Appen shares. (Substantial holders own a 5% stake or more in a company).Spheria participated in Appen’s recent $21 million institutional placement, which is part of a wider $60 million capital raising.Spheria bought 4.17 million new shares for a total consideration of just above $7.715 million.It already owned Appen shares (it has been buying since February), but taking up the placement pushed its holding to 6.95%. Spheria now owns 9.76 million shares in total.Also of note is the increased stakes taken out by two more institutional investors before the placement was announced.State Street and Citigroup both bought millions of shares on 10 May.That was the same day Appen released a trading update that sent its shares into a 28% tailspin.Apparently, State Street and Citigroup saw a big opportunity in the share price dive.Or, perhaps their purchases indicate faith in Appen’s renewal strategy that was announced alongside the trading update.State Street increased its stake in the company to 6.71% on 10 May. It became a substantial holder in mid-April with an initial 5.58% purchase.Citigroup became a substantial holder on 10 May with a 5.31% stake.Appen says the equity raising will fund one-off costs associated with its cost reduction program and provide balance sheet flexibility and general working capital.
- Forums
- ASX - By Stock
- APX
- Ann: Completion of institutional component of equity raising
Ann: Completion of institutional component of equity raising, page-126
Featured News
Add APX (ASX) to my watchlist
|
|||||
Last
$1.00 |
Change
-0.215(17.7%) |
Mkt cap ! $223.0M |
Open | High | Low | Value | Volume |
$1.25 | $1.27 | 99.0¢ | $33.62M | 31.22M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
9 | 117991 | $1.00 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$1.01 | 69030 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
9 | 117991 | 1.000 |
6 | 25408 | 0.995 |
20 | 270258 | 0.990 |
4 | 125452 | 0.985 |
10 | 326467 | 0.980 |
Price($) | Vol. | No. |
---|---|---|
1.010 | 69030 | 2 |
1.015 | 15958 | 2 |
1.020 | 50266 | 5 |
1.025 | 16730 | 3 |
1.030 | 118024 | 3 |
Last trade - 16.10pm 30/08/2024 (20 minute delay) ? |
Featured News
APX (ASX) Chart |
The Watchlist
CCO
THE CALMER CO INTERNATIONAL LIMITED
Anthony Noble, MD & CEO
Anthony Noble
MD & CEO
Previous Video
Next Video
SPONSORED BY The Market Online