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Megaport ( (AU:MP1) ) has shared an update.
Megaport Limited has announced the opening of its Share Purchase Plan (SPP) for eligible shareholders in Australia and New Zealand, following a successful A$200 million institutional placement. The SPP aims to raise up to A$20 million, allowing shareholders to purchase additional shares at a discounted rate, with the potential to increase the amount raised or scale back applications based on demand. This initiative is part of Megaport’s strategy to strengthen its financial position and enhance shareholder value, reflecting its commitment to expanding its market presence and 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 Limited operates in the technology industry, specializing in network services. The company provides scalable and flexible connectivity solutions to businesses, focusing on enabling rapid and secure network connections across various locations.
YTD Price Performance: 86.16%
Average Trading Volume: 766,591
Technical Sentiment Signal: Buy
Current Market Cap: A$2.22B
For detailed information about MP1 stock, go to TipRanks’ Stock Analysis page.