FINWIRES · TerminalLIVE
FINWIRES

Cuscal Secures AU$30 Million in Fully Underwritten Institutional Placement; Shares Hit Record-High

By

Cuscal (ASX:CCL) has completed a fully underwritten institutional placement to raise AU$30 million through the issuance of around 7.5 million new shares at a fixed price of AU$4 per share, representing a 3.9% discount to the five-day volume-weighted average price (VWAP), according to a Wednesday filing with the Australian bourse.

The settlement of the new shares under the placement is expected on Friday, with trading anticipated to begin on April 20, per the filing.

The company will also launch a non-underwritten share purchase plan for eligible Australian and New Zealand shareholders to raise up to AU$3 million, allowing subscriptions of up to AU$30,000 in shares without brokerage at the lower of the placement price or a 1.5% discount to the five-day VWAP, the filing said.

The proceeds will be used to support the company's acquisition of Paymark, the filing added.

Shares of the company rose 7% in recent Wednesday trade and earlier hit a record high.

Related Articles

Asia

Farglory Land Development OKs NT$3.8 Billion Construction Project

Farglory Land Development (TPE:5522) approved a NT$3.8 billion construction contract for a project in Tainan's East District, according to a Monday Taiwan Exchange filing.Shares slid over 1% in Tuesday's late morning trade.The contract involves a joint venture to develop land in the Dongguang Section, with work to be carried out by its unit, Farglory Construction.The project is expected to support future revenue growth upon completion.The company did not disclose a timeline for the project.

TPE:5522
Asia

China Northern Rare Earth Forecasts Up to 118% Rise in Q1 Profit; Shares Fall 4%

China Northern Rare Earth (SHA:600111) expects attributable profit to jump 109% to 118% to between 900 million yuan and 940 million yuan in the first quarter from 430.6 million yuan in the year-ago period, according to a Tuesday filing with the Shanghai bourse.The upbeat forecast is attributable to a price increase in rare earths, as well as cost reduction and risk control, the filing said.Shares fell 4% during the midday break.

SHA:600111
Asia

Sinomach's 2025 Profit Slips 7%, Revenue Jumps 14%; Shares Up 5%

Sinomach Precision Industry's (SHE:002046) net profit attributable to shareholders in 2025 slipped 7% to 260.3 million yuan from 279.8 million yuan a year earlier, according to a Shenzhen bourse filing on Tuesday.Earnings per share fell 8% year on year to 0.49 yuan from 0.53 yuan.Operating revenue jumped 14% to 3.02 billion yuan from 2.66 billion yuan in the previous year.The Chinese industrial equipment manufacturer's shares jumped 5% during the morning trade.

SHE:002046