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Matrix Composites & Engineering Ltd ( (AU:MCE) ) just unveiled an update.
Matrix Composites & Engineering Ltd has redeemed its $7.5 million Convertible Note, originally issued to Collins Street Asset Management Pty Ltd, by utilizing a new term loan from National Australia Bank. This strategic move is part of Matrix’s broader debt refinancing initiative, resulting in a simplified debt structure that supports future business opportunities without impacting the company’s net debt position.
The most recent analyst rating on (AU:MCE) stock is a Hold with a A$0.22 price target. To see the full list of analyst forecasts on Matrix Composites & Engineering Ltd stock, see the AU:MCE Stock Forecast page.
More about Matrix Composites & Engineering Ltd
Matrix Composites & Engineering specialises in the design, engineering, and manufacture of composite and advanced material technology solutions for industries such as oil and gas, civil and infrastructure, resources, defence, and transportation. With over 20 years of experience, the company is recognized as an industry leader and a major exporter of Australian goods and services, offering turnkey solutions with global customer support.
YTD Price Performance: 4.17%
Average Trading Volume: 220,531
Technical Sentiment Signal: Sell
Current Market Cap: A$56.17M
See more insights into MCE stock on TipRanks’ Stock Analysis page.