Reposting my post from the shareprice thread.......
In a MF article IOOF's chief had this to say about their AEF sell down....
IOOF's Chief Executive Officer, Renato Mota, revealed that the sale was part of the company’s plan to simplify its business.
He commented: “Our investment in Australian Ethical has realised significant returns for our shareholders. This sale aligns to our transformation strategy which includes simplification of our business. We remain committed to providing access to ethical investment for the benefit of our clients as well as society generally.”
“Australian Ethical’s award winning funds will remain available alongside several other ethical investment options on our platforms,” he added.
The company advised that the proceeds from the divestment will be used to reduce its debt and provide strategic flexibility for growth opportunities. The impact on its underlying net profit after tax will not be material.
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Doesn't sound like there was anything intrinsically wrong with AEF persay, it was just IOOF wanted to reduce its debt and simplify its business. They describe AEF as an award winning fund and that their products will still remain available to its customers. Doesnt sound like they plan to sell off the rest of their shares in AEF IMO
Reposting my post from the shareprice thread....... In a MF...
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Last
$4.00 |
Change
-0.250(5.88%) |
Mkt cap ! $451.1M | |||
| Open | High | Low | Value | Volume |
| $4.27 | $4.27 | $4.00 | $599.3K | 145.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 1488 | $4.00 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $4.14 | 9000 | 2 |
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| Last trade - 16.10pm 09/07/2024 (20 minute delay) ? |
| AEF (ASX) Chart |