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The latest announcement is out from Aspen Group Limited ( (AU:APZ) ).
Aspen Group has successfully completed an institutional placement, raising $70.18 million through the issuance of 24.2 million new securities at $2.90 each. The funds will be used to reduce debt and strengthen the company’s ability to pursue growth opportunities, reducing gearing to approximately 17%. Additionally, Aspen is offering a Security Purchase Plan (SPP) to eligible securityholders in Australia and New Zealand, allowing them to purchase up to $30,000 worth of new securities at the same price. This move is expected to enhance Aspen’s financial flexibility and support its strategic growth initiatives.
The most recent analyst rating on (AU:APZ) stock is a Buy with a A$2.48 price target. To see the full list of analyst forecasts on Aspen Group Limited stock, see the AU:APZ Stock Forecast page.
More about Aspen Group Limited
Aspen Group Limited, along with Aspen Property Trust, operates in the real estate sector, focusing on property investment and management. The company is listed on the Australian Securities Exchange under the ticker APZ.
Average Trading Volume: 213,812
Technical Sentiment Signal: Buy
Current Market Cap: A$602.4M
See more insights into APZ stock on TipRanks’ Stock Analysis page.