Macquarie note: Nearmap's capital raising should help fund what Macquarie says is an up-front land grab necessary to gain scale in a competitive industry. The Australian bank endorses the aerial photo-mapping firm's raising, which adds A$88 million to its balance sheet, and says it was unsurprising given the need to fund growth initiatives, especially in North America. The raising reduces balance-sheet risk and allows investment despite potential uncertainties from the coronavirus, Macquarie says. Nearmap is targeting growth from customers in insurance, government and roofing, which Macquarie notes are less cyclical than other verticals. Target price rises 16% to A$3.20.
- Forums
- ASX - By Stock
- NEA
- Ann: Nearmap successfully completes $72.1 million placement
Ann: Nearmap successfully completes $72.1 million placement, page-19
-
- There are more pages in this discussion • 5 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add NEA (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
LPM
LITHIUM PLUS MINERALS LTD.
Simon Kidston, Non--Executive Director
Simon Kidston
Non--Executive Director
SPONSORED BY The Market Online