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Webcentral Ltd ( (AU:5GN) ) has shared an update.
5G Networks Limited has acquired 90.02% of AuCyber Limited’s shares and plans to potentially increase this to 92.86% under the 3% creep rule of the Corporations Act 2001. The company also has the option to fully acquire the remaining shares within six months but has not yet decided on this course of action. This acquisition strengthens 5GN’s market position and could have significant implications for its operational capabilities and stakeholder interests.
More about Webcentral Ltd
5G Networks Limited (5GN) is an Australian-owned digital services company that supports over 2,500 corporate clients with a wide range of services, including Cloud, Data networks, Data centres, managed IT services, and digital marketing. The company operates a high-speed data network with international reach and offers managed cloud solutions and services to optimize IT and network environments. 5GN’s infrastructure includes over 1,200 racks across data centres in major Australian cities.
Average Trading Volume: 161,000
Technical Sentiment Signal: Sell
Current Market Cap: A$37.23M
See more insights into 5GN stock on TipRanks’ Stock Analysis page.