Yovich & Co. Market Update - 27 July 2021

Jul 27, 2021 | Commentary

27 July 2021

 Market Update 2021 07 27

In summary, the NZX50G had 27 companies on the downside, 4 remained unchanged and 19 companies were on the upside. International indices closed the week in the positive after a strong sell down on Monday. Victoria and South Australia are set to emerge from their lockdowns at midnight 27 July, the lockdown of greater Sydney will continue indefinitely after another 145 cases were reported yesterday. News items to keep an eye on this week are, in the US Q2 GDP, Initial jobless claims, and Personal Income/spending. Back at home the ANZ Business confidence, ANZ Activity Outlook and ANZ Consumer confidence.

 

Biggest Movers 2021 07 27

Investment News

 

ANZ Capital Notes 1

Announced it will redeem all outstanding ANZ Capital Notes 1 (CN1) (ANZPD.asx) on issue for their Face Value of $100 each on 1 September 2021. The last day of trading of the CN1 on the ASX will be 20 August 2021. Shareholders as of 24 August 2021 will receive the interest of AU$0.3655 for the period of 8 July to 1 September 2021.

Current Capital Note price: $100.15.

Radius Care

Retail Offer of $5m (ability to accept $5m in oversubscription) is now open to shareholders as of the record date 20 July 2021. There is no maximum amount of shares you can apply for, however, in the event that applications under the Retail Offer exceed the Retail Offer size, Radius Care will have the right to scale applications. The issue price of the retail offer is 52 cents per new share, the offer closes 9 August 2021 and new shares will be quoted 13 August 2021. This retail offer is part of the $50m required to fund strategic growth initiatives.

Current Share Price: $0.61, Historical Gross Dividend Yield: 1.90%.

IkeGPS

Has released an update for the quarter to 30 June 2021. Revenue in the quarter of approximately $2.6m up 12% on previous current period. New contracts closed in Q1 FY22 were for approximately $6.1m. IKE CEO, Glenn Milnes, commented “Q1 FY22 was another strong period for our business. The level of new contracts won these past two quarters, totalling approximately $11.5m against FY21 full year revenue of $9.3m, provides us with confidence around the potential for substantial revenue growth in the year ahead. We have also been pleased with progress across the recently acquired IKE Insight solution, with numerous prospect customers progressing positively. We are optimistic that this additive AI-based solution specific for poles can become another important growth driver for the IKE business in some new polerelated segments for the electric utility and communications market”.

Current Share Price: $1.19.

 

Disclaimer:“Yovich & Co Limited believes the information in this publication is correct, and it has reasonable grounds for any opinion or recommendation found within this publication on the date of this publication. However, no liability is accepted for any loss or damage incurred by any person as a result of any error in any information, opinion or recommendation in this publication.

Nothing in this publication is, or should be taken as, an offer, invitation or recommendation to buy, sell or retain any investment in or make any deposit with any person.

The information contained in this publication is general in nature. It may not be relevant to individual circumstances. Before making any investment, insurance or other financial decisions, you should consult a professional financial adviser.

This publication is for the use of persons in New Zealand only.

Copyright in this publication is owned by Yovich & Co Limited. You must not reproduce or distribute content from this publication or any part of it without prior permission.”

View all news

Download a PDF copy


About the author



Nathanael McDonald



Related Tags



ANZ Capital Notes Radius Care IkeGPS Investments KiwiSaver COVID-19 Investment Advice Share advice Shares Financial Adviser Stock Market How to Invest Investment Adviser Whangarei Whangarei Investment Advice



Comments


Leave a Comment