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An announcement from Tuas Ltd. ( (AU:TUA) ) is now available.
Tuas Limited has successfully completed an institutional placement, raising A$385 million at $5.51 per share to fund its acquisition of M1. The placement was well-received, with no discount to the last close price, indicating strong investor support. Approximately 69.9 million new shares will be issued, increasing the total shares to about 536 million. Additionally, Tuas plans to offer a share purchase plan to existing shareholders to raise an additional A$50 million. Trading, which was halted pending this announcement, is set to resume following the successful placement.
The most recent analyst rating on (AU:TUA) stock is a Buy with a A$7.00 price target. To see the full list of analyst forecasts on Tuas Ltd. stock, see the AU:TUA Stock Forecast page.
More about Tuas Ltd.
Tuas Limited operates within the telecommunications industry, focusing on providing communication services and solutions. The company is listed on the Australian Securities Exchange (ASX) under the ticker TUA.
Average Trading Volume: 436,959
Technical Sentiment Signal: Buy
Current Market Cap: A$2.58B
For a thorough assessment of TUA stock, go to TipRanks’ Stock Analysis page.