Aug 4 (Reuters) - IFM Global Infrastructure Fund and its related entities have raised their stake in toll road operator Atlas Arteria Group (ALX) , an exchange filing showed on Thursday, a week after the fund manager walked away from a potential buyout deal.
Diamond Infraco, an entity related to IFM, and its associates increased their combined interest in Atlas to 19%, according to a filing with the Australian Securities Exchange.
Both IFM and Atlas were not immediately available for a Reuters request for comment.
IFM had acquired a 15% stake in Atlas and hinted at a potential takeover attempt in early-June, but it said last week that it was not in a position to progress with a deal and ceased discussions.
The 4% additional stake that IFM has since acquired is valued at nearly A$300 million ($208.80 million), based on a last close price of A$7.75. Atlas's valuation stood around A$7.4 billion, based on Wednesday's closing stock price.
Shares of the company surged as much as 5.7% to A$8.19, recording their biggest single-day gain since June 8.
($1 = 1.4368 Australian dollars)
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Last
$5.27 |
Change
0.050(0.96%) |
Mkt cap ! $7.645B | |||
| Open | High | Low | Value | Volume |
| $5.27 | $5.28 | $5.23 | $7.126M | 1.354M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 6 | 20348 | $5.24 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $5.27 | 6732 | 2 |
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| Last trade - 16.10pm 12/09/2025 (20 minute delay) ? |
| ALX (ASX) Chart |