SHARE ISSUES – AUSTRALIA

Murdoch tightens Ten grip

roymorgansocial Leave a comment

Original article by Max Mason
The Australian Financial Review – Page: 1 & 8 : 16-Jun-15

Pay-TV group Foxtel will acquire a stake of around 15 per cent in the Ten Network, paying $A0.15 per share, which equates to about $A77m. Ten shareholders will also be offered additional stock at $A0.15, with the free-to-air broadcaster raising $A154m in total via the share placement. Meanwhile, Ten will take a 24.99 per cent stake in Foxtel’s Multi Channel Network advertising sales company, which will in turn merge with Ten’s advertising department.

CORPORATES
TEN NETWORK HOLDINGS LIMITED – ASX TEN, FOXTEL MANAGEMENT PTY LTD, MULTI CHANNEL NETWORK PTY LTD, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, TELSTRA CORPORATION LIMITED – ASX TLS, REA GROUP LIMITED – ASX REA, SKY PLC, 20TH CENTURY FOX INCORPORATED, FOX SPORTS AUSTRALIA PTY LTD, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, SEVEN WEST MEDIA LIMITED – ASX SWM, SMI MEDIA INCORPORATED

Special payout boosts Tabcorp

roymorgansocial Leave a comment

Original article by Andrew White
The Australian – Page: 21 : 6-Feb-15

Gaming group Tabcorp has announced a 2014-15 interim net profit increase of 64.1% to $A122.4m. Excluding abnormals the rise was 21.8% to $A90.9m, and revenue also grew 6.7% to reach $A1.12bn. The six-month distribution is $A0.10, up from $A0.08. CEO David Attenborough said the Australian-listed company would stage a pro-rata accelerated renounceable entitlement offer at an issue price of $A3.70, compared with the most recent on-market value of $A4.71. The proceeds will be partly used to fund a special distribution worth $A0.30 a share

CORPORATES
TABCORP HOLDINGS LIMITED – ASX TAH, ARGO INVESTMENTS LIMITED – ASX ARG, HARVEY NORMAN HOLDINGS LIMITED – ASX HVN, UBS HOLDINGS PTY LTD

Harvey unfazed by ‘first strike’

roymorgansocial Leave a comment

Original article by Eli Greenblat
The Australian – Page: 23 : 26-Nov-14

The remuneration report of retailing group Harvey Norman at its 25 November 2014 AGM was rejected by 282.5 million stockholder votes and approved by just 90 million. The resulting "first strike" under Australian executive pay laws has been labelled irrelevant by chair Gerry Harvey, who also owns 30% of the business and cannot vote that bloc. The salary increase of over 40% for CEO Katie Page had triggered a recommendation for a "no" vote by proxy advisory firm Ownership Matters. Meanwhile Harvey Norman will source $A120.7m in fresh capital from existing investors at $A2.50 a share

CORPORATES
HARVEY NORMAN HOLDINGS LIMITED – ASX HVN, OWNERSHIP MATTERS PTY LTD

Medibank Private float stirs hype as retail demand balloons

roymorgansocial Leave a comment

Original article by Joyce Moullakis
The Australian Financial Review – Page: 18 : 18-Nov-14

There has been strong demand for Medibank Private shares from both retail and institutional investors. Retail investors have expressed interest in buying more than $A4.8bn shares in the IPO, while institutional demand is estimated at $A12bn. The share offer for retail investors closed on 14 November 2014, while the bookbuild for institutional investors will commence on 19 November. Retail investors will pay no more than $A2 per share

CORPORATES
MEDIBANK PRIVATE LIMITED – ASX MPL, AUSTRALIA. DEPT OF FINANCE, DEUTSCHE BANK AG, GOLDMAN SACHS AND PARTNERS AUSTRALIA PTY LTD, MACQUARIE CAPITAL PTY LTD, ELEY GRIFFITHS GROUP PTY LTD, PROMINA GROUP LIMITED, TELSTRA CORPORATION LIMITED – ASX TLS

Lynas plunges on $83m raising

roymorgansocial Leave a comment

Original article by Sarah-Jane Tasker
The Australian – Page: 19 : 30-Sep-14

The stock of Australian-listed rare earths mining group Lynas Corporation on 29 September 2014 closed 25.22% lower at $A0.086. Investors reacted negatively to news that the company was staging a share issue designed to source $A83m in fresh capital, after posting a 2013-14 loss of $A13.1m. The issue price for the shares will be $A0.08. New institutional stockholders are set to account for $A12m, which Lynas will allocate to servicing of its current liabilities

CORPORATES
LYNAS CORPORATION LIMITED – ASX LYC, SOJITZ CORPORATION, JAPAN OIL GAS AND METALS NATIONAL CORPORATION

Funds cash up for expansion

roymorgansocial Leave a comment

Original article by Ben Wilmot
The Australian – Page: 30 : 23-Sep-14

Real estate investment trusts are raising capital for expansion. South African-listed Investec Australia Property Fund plans to raise $A120 million. It is buying a $A65.5 million office tower in central Brisbane. GPT Metro Office Fund aims to raise $A255 million in a bookbuild on 30 September 2014

CORPORATES
INVESTEC AUSTRALIA PROPERTY FUND, GPT METRO OFFICE FUND, GPT GROUP – ASX GPT, MORGANS FINANCIAL LIMITED, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, LION PTY LTD, KIRIN HOLDINGS COMPANY LIMITED, SAMSUNG (AUSTRALIA) PTY LTD, FIFE CAPITAL PTY LTD, IM MEDICAL LIMITED – ASX IMI, ADX MANAGEMENT LIMITED, FAIRFAX MEDIA LIMITED – ASX FXJ

Arrium plunge in wake of raising

roymorgansocial Leave a comment

Original article by Matt Chambers, Barry FitzGerald
The Australian – Page: 19 : 19-Sep-14

The share price of steel and iron ore miner Arrium fell on 18 September 2014 after its capital raising. The company wanted to raise $A754 million. However, only 79 per cent of institutional shareholders participated, raising $A465 million. Arrium’s stock dropped by $A0.0165 to a record low of $A0.40

CORPORATES
ARRIUM LIMITED – ASX ARI, BHP BILLITON LIMITED – ASX BHP, ALLAN GRAY AUSTRALIA PTY LTD

Almond harvest profits go nuts

roymorgansocial Leave a comment

Original article by Sue Neales
The Australian – Page: 20 : 26-Aug-14

Select Harvests has posted a 2013-14 full-year net profit increase to an all-time high $A29m, as almond prices rose by a third and this compensated for a harvest that was down 17% after a poor season. The company has acquired three additional orchards and will source $A47m in fresh capital via a share issue priced at $A5.35. The final distribution is $A0.09 unfranked. MD Paul Thompson said Select Harvests was aiming to reduce its gearing to below 40%

CORPORATES
SELECT HARVESTS LIMITED – ASX SHV

Macquarie, Nine on Resi road

roymorgansocial Leave a comment

Original article by Andrew White
The Australian – Page: 21 : 10-Jul-14

Australian-listed financial services company Yellow Brick Road (YBR) is raising $42 million through a share issue to fund the acquisition of non-bank lender Resi. YBR will pay $A36 million in cash and shares for the target. Macquarie Group and Nine Entertainment will be issued with 17.1 million new shares in YBR, at $A0.70 a share, with other institutional investors taking 25.8 million shares

CORPORATES
YELLOW BRICK ROAD HOLDINGS LIMITED – ASX YBR, MACQUARIE GROUP LIMITED – ASX MQG, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, RESI MORTGAGE CORPORATION PTY LTD, VOW FINANCIAL HOLDINGS PTY LTD, BELL POTTER SECURITIES LIMITED, TICKETEK, MINERAL RESOURCES LIMITED – ASX MIN