I didn't actually see anything in the presentation that suggested they need the money right now - except for the potential funding of M & A activity. With some for accelerating expansion into US & Canada. They still have the majority of the money raised last year ..
They had $559Mn in cash & no debt maturing in FY21.
They could have funded expansion with the cash & takeover with scrip - though I'm guessing there is a cash & scrip takeover in the very near future (to be announced in the next month or two …)
APT Price at posting:
$68.00 Sentiment: Hold Disclosure: Held
