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Global stocks Shares

Square, Inc. has announced plans to acquire Afterpay, which will strengthen and enable stronger collaboration among its seller and cash app ecosystems.

The agreement’s specifics

Square, Inc. and Afterpay Limited confirmed today that they have signed a Scheme Implementation Deed through which Square has come to terms to purchase all of Afterpay’s issued shares through a court-approved Scheme of Arrangement.

Jack Dorsey, the CEO of Twitter, is leading a $29 billion acquisition of Australian Afterpay

The deal is expected to be paid in all stock and has an indicated value of about US$29 billion (A$39 billion) based on the closing price of Square common stock on July 30, 2021. The merger will allow the organizations to achieve more enticing financial goods and services to more clients, as well as boost profits for retailers of all sizes. The deal is expected to close in the first quarter of 2022, depending to the fulfilment of certain closing terms stipulated.

Square’s strategic ambitions for its Seller and Cash App ecosystems will be accelerated by Afterpay, the world’s first worldwide “buy now, pay later” platform. Afterpay will be integrated into Square’s current Seller and Cash App business units, allowing even the tiniest retailers to offer BNPL at checkout, allowing Afterpay consumers to handle their instalment payments directly in Cash App, and allowing Cash App customers to discover merchants and BNPL offers directly within the app.

With such a best-in-class solution and a strong cultural alignment with Square, Afterpay is an industry leader. As of June 30, 2021, Afterpay had over 16 million customers and approximately 100,000 merchants worldwide, including major shops in fashion, home goods, cosmetics, athletic goods, and more.

Customers can buy with control of their finances

Afterpay enables customers to get the products they want and need while also enabling them to stay in control of their finances. Afterpay also helps merchants expand their operations by encouraging repeat purchases, increasing average transaction sizes, and allowing customers to pay over time. Afterpay is dedicated to assisting consumers in spending responsibly without incurring service fees, interest, or revolving debt, and currently supports customers in a number of countries spanning APAC, North America, and Europe (including under its Clearpay brand).

Source: squareup.com

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Any advice/ information provided is general in nature only and does not take into account the personal financial situation, objectives or needs of any particular person.

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IPO Watch

Sweetman Renewables Plans for Its ASX Debut with a Pre-IPO Raise

Sweetman Renewables is aiming for the biomass and green hydrogen industries with a $4 million pre-IPO capital raise ahead of its ASX launch later this year. The listing date is later this week.

With the addition of three divisions covering hydrogen production, biomass supply, and the sale of high-quality timber products, the company hopes to more than tenfold its revenue base.

This potential has already been recognised, with the company recently negotiating a 20-year biomass supply contract with a Japanese conglomerate worth US$90 million.

It is also in advanced talks with Verdant Earth Technologies about becoming the primary supplier of Verdant’s $550 million biomass power project in the Hunter Valley.

Sweetman Renewables intends to raise only $4 million in the pre-IPO round. As a result, Sweetman is trying to leverage its sustainable biomass to manufacture green hydrogen, which Goldman Sachs predicts will be a US$10 trillion market by 2050.

Company Profile

Sweetman Renewables is developing a hydrogen production plan to become one of the largest true green hydrogen producers, leveraging its sawmill operation to offer biomass and green hydrogen for sustainable energy. Using sawmill operations to supply biomass and green hydrogen for long-term energy.

(Source: Morningstar)

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Any advice/ information provided is general in nature only and does not take into account the personal financial situation, objectives or needs of any particular person.

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LICs LICs

Geoff Wilson claims first victory in his new LIC WAR

Wilson was in the United States on business when he began seeing Templeton reported as suggesting that now was the moment to invest 10% of your income in stocks, rather than avoiding them.

The chairman of the Wilson Asset Management listed investment company (LIC) empire says he’s a little sad to see the Templeton brand fade away from the ASX boards, 34 years after it first appeared in the 1987 upheaval.

But it’s not all bad: he’s basically buying out the Templeton Global Growth Fund, which will merge with Wilson’s WAM Global LIC.

Wilson has been following TGG since 2015, when WAM first purchased shares in the LIC, and has slowly raised its holdings to 14.6 percent.

The investment was transferred to the new WAM Strategic Value LIC, which debuted on 26 July and trades under the symbol WAR. The new LIC aspires to boost returns by assisting under-appreciated LICs in closing the gap between their net tangible asset values and share prices.

Wilson claims that WAM has been working with the TGG board for some time on strategies to close the gap between its stock price and NTA’s, including appointing an independent person to the board. TGG launched a strategic assessment of its structure late last year, and while Wilson claims WAM was startled by the board’s decision, WAM hasn’t been sitting on its hands.

For the first time in seven years, TGG investors will be able to withdraw money from NTA. However, if TGG investors chose WAM Global stock, Wilson’s LIC’s assets will increase by around $300 million, putting it among the largest LICs focusing on overseas shares on the ASX and putting it on the radar of additional investors and financial advisors.

Wilson’s WAM Global, which went public in 2018, was a work in progress. While it still trades at a 6.4 percent discount to NTA – one of the few WAM LICs to do so – the spread has decreased in the last two years, and Wilson is hoping that increased scale will help WAM Global break through.

(Source: Fact Set)

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Any advice/ information provided is general in nature only and does not take into account the personal financial situation, objectives or needs of any particular person.

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IPO Watch

Nuix share price rises on Macquarie’s IPO review verdict

While Macquarie claims to have found no evidence of misconduct, Nuix’s IPO is still under investigation by the Australian Securities and Investments Commission (ASIC). Some of the market’s concerns appear to have subsided. Today’s closing price for Nuix was $2.53, up 1.2 percent.

According to the Australian Financial Review, Macquarie’s chairman, Peter Warne, talked to the media today ahead of the company’s annual general meeting. He reportedly stated that Macquarie’s IPO team studied Nuix’s prospectus and float and found nothing suspicious.

Nuix had Macquarie as a supporter when it went public on the ASX. Macquarie was also Nuix’s largest shareholder, owning over 70% of the IT firm prior to its IPO. Macquarie currently owns about 30% of Nuix’s stock.

ASIC suspects Doyle may have informed his brother about Nuix’s February downgrading, according to court documents. Doyle’s brother is then accused of selling 1.8 million Nuix shares to avoid a $5.7 million loss.

Despite today’s advances, Nuix’s stock remains in negative territory. Its stock is currently trading for 68 percent less than it was when Nuix went public in December. With around 317 million shares outstanding, the company has a market capitalization of around $793 million.

Company Profile

Nuix specializes in transforming massive amounts of messy data – from emails, social media, communications and other human-generated content – into actionable intelligence. With Nuix’s investigative analytics and intelligence software, you can understand the context and connections across billions of items in your data – search it, filter it, visualize it, analyze it and find the truth it holds.

(Source: FactSet)

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Any advice/ information provided is general in nature only and does not take into account the personal financial situation, objectives or needs of any particular person.

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IPO Watch

The share price of Vulcan (ASX: VUL) is being closely monitored. Following the spin-off IPO Update

Money bag with the word IPO (Initial public offering; stock market launch) and a calculator. The first public sale of shares of a joint stock company. Business and finance concept

Vulcan’s non-core, battery metal projects will be taken over by it. Kuniko will become a zero-carbon copper, nickel, and cobalt producer with properties in Scandinavia as a result of this deal.

The first offering allowed interested individuals to purchase one of 12.5 million Kuniko shares for 20 cents each. A 1:4 pro rata priority offer allowed Vulcan owners to purchase about 26.93 million Kuniko shares for 20 cents each.

The spin-off was first announced in April by the corporation. The stock price of Vulcan then dropped as a result of the announcement.

Kuniko has raised $7.88 million through its prospectus offerings to fund its operations. Kuniko plans to go public on the ASX on August 23rd.

Vulcan’s stock is now trading currently on 30th July 2021 at $9.08. The Vulcan’s recent ASX performance has been outstanding. Vulcan shares are now worth 222 percent more than they were at the beginning of 2021. They’ve also increased by 1,682 percent over the same period last year.

Vulcan Energy Resources Ltd’s current normalized EBIDTA is recorded at (889695), P/E ratio is ($0.08) and EPS is marked at (0.09). And its 1 year change is reported at +2007.53%. Vulcan has a market capitalisation of roughly $969 million at its current share price.

Company Profile

Vulcan Energy Resources Ltd (ASX: VUL) was founded by Dr. Frencis Wedin on 2nd May 2018 and it’s listed on the ASX under the ticker KNI. Vulcan Energy Resources Limited is an energy metals exploration firm established in Australia. In Germany’s Upper Rhine Valley, the company is working on a combined geothermal and lithium extraction project. The Company’s zero-carbon lithium extraction method is powered by sustainable geothermal energy and generates renewable energy as a by-product. From its combined geothermal and lithium resource in Germany’s Upper Rhine Valley, Vulcan Energy Resources Limited hopes to develop a battery-quality lithium hydroxide chemical product with a net zero carbon footprint. It is established with the intention of exploring and developing battery metals.

 (Source: FactSet)

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Any advice/ information provided is general in nature only and does not take into account the personal financial situation, objectives or needs of any particular person.

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LICs LICs

Whitefield ltd Joins LIC Raisers

Whitefield, which has a $500 million investment portfolio, is anticipated to utilise the funds to Re launch the LIC, which is now only thinly traded due to its size.

Whitefield is managed by stockpicker Angus Gluskie’s Sydney-based White Funds Management. Commonwealth Bank, CSL, Westpac, NAB, and ANZ were its top holdings as of June 30.

On 14th July Morning, Whitefield stock was put on hold. In the year ended June 30, the company’s investment portfolio returned 25.6 percent before fees and taxes.

Company Profile

Our solutions support our clients’ mission critical business operations by providing proprietary and curated data and analytics to help drive informed decisions and improved outcomes. In an ever-increasing digital world, data is found everywhere. Data can describe the past or be of the moment.  Data fuels analytics that can anticipate the future.  And, data is most valuable when it drives action that moves an organization towards its goals.  Leading organizations use data and data-driven platforms to create a competitive edge. Our solutions derive data-driven insights that help clients target, grow, collect, procure and comply–even in changing times.

(Source: Fact Set)

General Advice Warning

Any advice/ information provided is general in nature only and does not take into account the personal financial situation, objectives or needs of any particular person.