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An announcement from Raiz Invest Ltd. ( (AU:RZI) ) is now available.
Southern Cross Media Group and its subsidiaries have ceased to be substantial shareholders in Raiz Invest Limited after disposing of their stake. The divestment was executed via an off‑market sale by Seven West Media Investments, which sold 6,184,292 Raiz ordinary shares at $0.585 per share, removing the media group’s deemed relevant interest in the fintech platform.
The change in holding restructures Raiz’s share register by eliminating a major media‑sector shareholder from its investor base. This may slightly increase the free float and could open room for new strategic or institutional investors, while also reducing the direct influence of the SXL Group and its associates over Raiz’s corporate decisions and voting outcomes.
The most recent analyst rating on (AU:RZI) stock is a Buy with a A$1.05 price target. To see the full list of analyst forecasts on Raiz Invest Ltd. stock, see the AU:RZI Stock Forecast page.
More about Raiz Invest Ltd.
Raiz Invest Limited is an Australian-listed financial services company that operates a digital investing and micro‑investment platform. It focuses on retail investors, offering automated investment tools that allow customers to build diversified portfolios, typically through small, recurring contributions and round‑up style features aimed at younger and first‑time investors.
Average Trading Volume: 176,463
Technical Sentiment Signal: Sell
Current Market Cap: A$64.81M
For detailed information about RZI stock, go to TipRanks’ Stock Analysis page.