AGL Energy Ltd(AGL):
AGL Energy has outlined a beefed-up spending budget for the next three years as it mulls investments to allow for gas imports and storage, and for the replacement of its Liddell coal generator in NSW. In a presentation to investors on Wednesday, AGL confirmed a large jump in investment this current financial year from last year, rising further in 2019 and 2020 depending on which new projects meet criteria for returns. Investment of $1.065 billion earmarked for this year could increase to as much as $1.112 billion in 2019, depending on approvals, according to the presentation. In 2020, investment could be $1.035 billion. In all the 2018-2020 capex outlook has been increased by between $369 million and $1.019 billion, Morgan Stanley said.
AUMAKE LTD(AU8):
The Daigou trade is proving lucrative for some investors. This morning AuMake announced a $20 million capital raising for existing shareholders to expand the number of stores the company has to at least twenty across Australia. The Sydney-based company is in a period of rapid growth as it acquires other health product businesses and capitalizes on the trend of Chinese nationals buying Australian products and bringing them back to China. AuMake has recently acquired Health Essence, a health supplements business, and Jumbuck, a wool manufacturer. The raising is via fully underwritten pro rata non-renounceable 2 for 15 entitlement offer at a price of 63¢ per ordinary share. Shares in AuMake began trading on the ASX in October, tripling on their first day. Though they've slipped 2 per cent to 71¢ after coming out of a trading halt this morning.
BHP Billiton LIMITED(BHP):
BHP has asked four investment banks to help it prepare for either a sale or spin-off of its underperforming US shale oil and gas unit, with a view to taking a decision in early 2018, sources said. BHP said in August it aimed to sell its unconventional onshore shale assets in the Eagle Ford, Permian, Haynesville and Fayetteville basins, which it acquired at the height of the oil boom and could be valued at more than $US10 billion ($13.2 billion).
CSL Limited(CSL):
Biotech giant CSL’s former boss Brian McNamee will return to its board, ready to take over as chairman next year, after John Shine announced his retirement from the company. The Australian-listed company (CSL) said today that Dr McNamee and Abbas Hussain had been appointed as independent non-executive directors, effective from February 14.Dr McNamee, who was CSL’s chief executive for 23 years before retiring in 2013, will assume the position of chairman-elect.He led CSL from Australian government ownership, through privatization and listing on the Australian Securities Exchange to becoming a global industry leader.
Fortescue Metals Group(FMG):
UBS released a note this morning showing the analysts have upgraded the stock to a "buy" rating with a $5.30 price target. The iron ore sector appears to offer good value, say UBS, adding they expect high commodity prices and strong free cash flow generation as a great benefit to Fortescue. Fortescue Metals shares are up 2.5 per cent to $4.82 on Wednesday, making it one of the stronger performers on the ASX.
Iron Mountain Inc(INM):
Document storage company Iron Mountain slide more than 6 per cent to $49.81 after it said it would buy the US operations of IO Data Centers for about $US1.32 billion. It also announced a private placement of $825 million of its senior unsecured notes due 2028. The $1.315bn transaction could cost the company up to $60m extra based on future performance as well as adjustments to be made as a matter of formality. Under the deal, Iron Mountain will acquire the land and buildings associated with four data centers in Phoenix and Scottsdale, Arizona; Edison, New Jersey; and Columbus, Ohio. The existing data center space in the four facilities totals 728,000 square feet, providing 62 megawatts (MW) of capacity with expansion potential of an additional 77 MW in Arizona and New Jersey, Iron Mountain said. Iron Mountain said it expected the deal, expected to close in January, to add to adjusted funds from operations (AFFO) in 2019.
P2P Transport Limited(P2P):
The chief executive of newly-listed P2P Transport says the business is "platform agnostic" and will win out no matter how much ride-sharing services eat into taxi revenues because it provides vehicles to all players in the $6 billion personal transport market. P2P Transport made a modest debut on the ASX on Wednesday, with opening trades at $1.44 compared with an issue price of $1.32 before the shares drifted lower on light volumes to around the $1.35 mark by noon. The company also revealed on Wednesday it had expanded its fleet of vehicles to 828, after bringing an extra 108 into its network. The additional vehicles included 30 MeeGo vehicles to lift its presence in ride-sharing. The aim is to reach a total of 1,084 vehicles across all different types by the end of June 2018.
Westfield Corporation (WFD):
Westfield founder Frank Lowy and his sons, Peter and Steven, can walk away from the $33 billion Unibail-Rodamco takeover of Westfield Corp with their heads held high. They have negotiated a takeover offer that blows away the discount to net asset value that has plagued the Westfield stock for several years. The cash and scrip offer, which is equivalent to $10 a share, is at a 17 per cent premium to the prevailing market price and a 26 per cent premium to the three-month value weighted average price.
(Source: AIMS)
AGL Energy has outlined a beefed-up spending budget for the next three years as it mulls investments to allow for gas imports and storage, and for the replacement of its Liddell coal generator in NSW. In a presentation to investors on Wednesday, AGL confirmed a large jump in investment this current financial year from last year, rising further in 2019 and 2020 depending on which new projects meet criteria for returns. Investment of $1.065 billion earmarked for this year could increase to as much as $1.112 billion in 2019, depending on approvals, according to the presentation. In 2020, investment could be $1.035 billion. In all the 2018-2020 capex outlook has been increased by between $369 million and $1.019 billion, Morgan Stanley said.
AUMAKE LTD(AU8):
The Daigou trade is proving lucrative for some investors. This morning AuMake announced a $20 million capital raising for existing shareholders to expand the number of stores the company has to at least twenty across Australia. The Sydney-based company is in a period of rapid growth as it acquires other health product businesses and capitalizes on the trend of Chinese nationals buying Australian products and bringing them back to China. AuMake has recently acquired Health Essence, a health supplements business, and Jumbuck, a wool manufacturer. The raising is via fully underwritten pro rata non-renounceable 2 for 15 entitlement offer at a price of 63¢ per ordinary share. Shares in AuMake began trading on the ASX in October, tripling on their first day. Though they've slipped 2 per cent to 71¢ after coming out of a trading halt this morning.
BHP Billiton LIMITED(BHP):
BHP has asked four investment banks to help it prepare for either a sale or spin-off of its underperforming US shale oil and gas unit, with a view to taking a decision in early 2018, sources said. BHP said in August it aimed to sell its unconventional onshore shale assets in the Eagle Ford, Permian, Haynesville and Fayetteville basins, which it acquired at the height of the oil boom and could be valued at more than $US10 billion ($13.2 billion).
CSL Limited(CSL):
Biotech giant CSL’s former boss Brian McNamee will return to its board, ready to take over as chairman next year, after John Shine announced his retirement from the company. The Australian-listed company (CSL) said today that Dr McNamee and Abbas Hussain had been appointed as independent non-executive directors, effective from February 14.Dr McNamee, who was CSL’s chief executive for 23 years before retiring in 2013, will assume the position of chairman-elect.He led CSL from Australian government ownership, through privatization and listing on the Australian Securities Exchange to becoming a global industry leader.
Fortescue Metals Group(FMG):
UBS released a note this morning showing the analysts have upgraded the stock to a "buy" rating with a $5.30 price target. The iron ore sector appears to offer good value, say UBS, adding they expect high commodity prices and strong free cash flow generation as a great benefit to Fortescue. Fortescue Metals shares are up 2.5 per cent to $4.82 on Wednesday, making it one of the stronger performers on the ASX.
Iron Mountain Inc(INM):
Document storage company Iron Mountain slide more than 6 per cent to $49.81 after it said it would buy the US operations of IO Data Centers for about $US1.32 billion. It also announced a private placement of $825 million of its senior unsecured notes due 2028. The $1.315bn transaction could cost the company up to $60m extra based on future performance as well as adjustments to be made as a matter of formality. Under the deal, Iron Mountain will acquire the land and buildings associated with four data centers in Phoenix and Scottsdale, Arizona; Edison, New Jersey; and Columbus, Ohio. The existing data center space in the four facilities totals 728,000 square feet, providing 62 megawatts (MW) of capacity with expansion potential of an additional 77 MW in Arizona and New Jersey, Iron Mountain said. Iron Mountain said it expected the deal, expected to close in January, to add to adjusted funds from operations (AFFO) in 2019.
P2P Transport Limited(P2P):
The chief executive of newly-listed P2P Transport says the business is "platform agnostic" and will win out no matter how much ride-sharing services eat into taxi revenues because it provides vehicles to all players in the $6 billion personal transport market. P2P Transport made a modest debut on the ASX on Wednesday, with opening trades at $1.44 compared with an issue price of $1.32 before the shares drifted lower on light volumes to around the $1.35 mark by noon. The company also revealed on Wednesday it had expanded its fleet of vehicles to 828, after bringing an extra 108 into its network. The additional vehicles included 30 MeeGo vehicles to lift its presence in ride-sharing. The aim is to reach a total of 1,084 vehicles across all different types by the end of June 2018.
Westfield Corporation (WFD):
Westfield founder Frank Lowy and his sons, Peter and Steven, can walk away from the $33 billion Unibail-Rodamco takeover of Westfield Corp with their heads held high. They have negotiated a takeover offer that blows away the discount to net asset value that has plagued the Westfield stock for several years. The cash and scrip offer, which is equivalent to $10 a share, is at a 17 per cent premium to the prevailing market price and a 26 per cent premium to the three-month value weighted average price.
(Source: AIMS)
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