Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
An announcement from Aussie Broadband Ltd. ( (AU:ABB) ) is now available.
Aussie Broadband has disclosed a change in managing director Phillip Britt’s interest in the company’s securities, after an associated entity, Digital Interworks Pty Ltd, sold 500,000 ordinary shares on-market at an average price of $5.11 per share. Following the sale, Digital Interworks still holds more than 11.28 million Aussie Broadband shares, while Britt also retains 898,435 options under a long-term incentive plan.
The filing also reiterates that 4.5 million Aussie Broadband shares held by Digital Interworks remain pledged as security under an existing diversified asset loan with ANZ, linked to a community-focused fibre venture in Victoria’s Gippsland region. The loan includes financial covenants that, if breached and not cured, could trigger the disposal of some or all of the secured shares, underscoring an ongoing layer of financing and market risk around Britt’s indirectly held stake.
The most recent analyst rating on (AU:ABB) stock is a Buy with a A$6.30 price target. To see the full list of analyst forecasts on Aussie Broadband Ltd. stock, see the AU:ABB Stock Forecast page.
More about Aussie Broadband Ltd.
Aussie Broadband Limited is an Australian telecommunications provider focused on broadband and related connectivity services. The company operates in the competitive national telecoms and internet market, serving residential, business and community customers with fixed-line and fibre-based solutions.
Average Trading Volume: 1,159,104
Technical Sentiment Signal: Buy
Current Market Cap: A$1.5B
See more data about ABB stock on TipRanks’ Stock Analysis page.