This is reported to be an acquisition of Lendlease's Services business for $310m to be partly funded via an equity raise. Not a bad acquisition move. At least it will potentially give some catalyst to allow the share price to recover some lost value.
The only thing I don't like is that it is done when the SP is relatively low, but positively the capital raise will be offered at a reasonably small discount to the last closing price - expected to be at $0.90. Positively, it is anticipated to be 30% earnings accretive in FY2022. What are people's initial thoughts?
There is an article in AFR's Street Talk this morning.
Ann: LLC: Lendlease announces sale of Services Business, page-2
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Last
$1.99 |
Change
0.000(0.00%) |
Mkt cap ! $1.222B | |||
| Open | High | Low | Value | Volume |
| $1.97 | $2.01 | $1.97 | $2.443M | 1.225M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 2500 | $1.95 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.00 | 500 | 1 |
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| Last trade - 16.10pm 31/07/2025 (20 minute delay) ? |
| SSM (ASX) Chart |