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An update from Webcentral Ltd ( (AU:5GN) ) is now available.
5G Networks Limited announced the closure of its on-market takeover offer for AuCyber Limited, with a relevant interest in 89.685% of AuCyber’s shares. Despite not reaching the 90% threshold necessary for compulsory acquisition, this significant shareholding in AuCyber highlights 5GN’s strategic move to expand its market presence and influence, although it limits their immediate ability to acquire full control of AuCyber. The development could impact stakeholders by solidifying 5GN’s position in the digital services market while maintaining the status quo of AuCyber’s remaining shareholders.
More about Webcentral Ltd
5GN is an Australian-owned digital services company that supports over 2,500 corporate clients in their online growth. The company offers a wide range of digital services, including cloud solutions, data networks, data centers, managed IT services, and digital marketing. It operates a high-speed data network with a presence in major cities across Australia, as well as in international locations like Singapore, the USA, Hong Kong, and New Zealand. 5GN is dedicated to enhancing customers’ digital journeys through expertise, innovation, and personalized service.
YTD Price Performance: 21.79%
Average Trading Volume: 7,023
Technical Sentiment Consensus Rating: Hold
Current Market Cap: $29.1M
See more insights into 5GN stock on TipRanks’ Stock Analysis page.
