Aspen Group Sells Eureka Shares to Reduce Debt

Aspen Group Limited ( (AU:APZ) ) has issued an announcement.

Aspen Group Limited has announced the sale of its remaining 55 million shares in Eureka Group Holdings for a total of $27.5 million. The proceeds from this sale, along with recent equity raising, will be used to reduce the company’s net debt to approximately $92 million and decrease its gearing to about 14%. The company’s guidance for its underlying earnings per share for the fiscal year 2025 remains unchanged, indicating stability in its financial outlook despite the asset sale.

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 operates in the real estate industry, focusing on property investments and management. The company is involved in acquiring, developing, and managing a diverse portfolio of properties, aiming to deliver sustainable returns to its stakeholders.

YTD Price Performance: 31.71%

Average Trading Volume: 251,949

Technical Sentiment Signal: Buy

Current Market Cap: A$650.6M

Learn more about APZ stock on TipRanks’ Stock Analysis page.