"SWM will take a strategic investment of a 6.6% stake in Raiz via a $10 million share placement, aligning both companies’ interests to work. The investment was priced at RZI’s 10 day VWAP of $1.617.
Payment for the $10 million investment will be split between $2 million in cash and the equivalent of $8 million in advertising across Seven’s broadcast television, publishing and digital media assets, which have a combined reach of more than 18 million Australians."
I concur with the 10% of the company part, and Seven will definitely want a return on their investment, especially paying $1.16 for their shares. Oh how nice it would be to be back at these levels, which is definitely achievable.
Annual results due to hit next week also, could could be a very positive week and with JP in the US speaking on Friday could also add a nice tailwind.....if all ducks line up in a row.
RZI Price at posting:
37.0¢ Sentiment: Buy Disclosure: Held
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