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Megaport ( (AU:MP1) ) just unveiled an announcement.
Megaport Limited has issued nearly 14 million new fully paid ordinary shares at $14.30 each to institutional and sophisticated investors as part of a fully underwritten institutional placement. This move is part of a broader strategy that includes a non-underwritten share purchase plan, aimed at enhancing the company’s financial position and market reach. The issuance of shares without disclosure under Part 6D.2 of the Corporations Act signifies compliance with regulatory requirements and reflects Megaport’s strategic efforts to strengthen its capital base and expand its operational capabilities.
The most recent analyst rating on (AU:MP1) stock is a Hold with a A$11.00 price target. To see the full list of analyst forecasts on Megaport stock, see the AU:MP1 Stock Forecast page.
More about Megaport
Megaport is a company that revolutionizes how businesses connect their infrastructure through a smart and simple platform. It offers secure, scalable, and agile network solutions, enabling access to global endpoints and private paths quickly. The company collaborates with global service providers, data center operators, systems integrators, and managed services companies, operating in over 1,000 locations worldwide. Megaport is ISO/IEC 27001 certified.
YTD Price Performance: 86.16%
Average Trading Volume: 766,591
Technical Sentiment Signal: Buy
Current Market Cap: A$2.22B
See more data about MP1 stock on TipRanks’ Stock Analysis page.