Metro Performance Glass Ltd (AU:MPP) has released an update.
Don’t Miss TipRanks’ Half-Year Sale
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Metro Performance Glass Ltd has halted the sale of Australian Glass Group (AGG) after evaluating a revised offer, deciding instead to retain the investment and pursue a capital raise targeting at least $15m to reduce debt and bolster both AGG and its New Zealand operations. AGG remains a strong asset, generating solid cash flow and positioned to benefit from new investments and building regulations. The company’s capital raise plan, alongside other options to maximize shareholder value, will be detailed after the annual results announcement in late May.
For further insights into AU:MPP stock, check out TipRanks’ Stock Analysis page.