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Tuas Ltd. ( (AU:TUA) ) has provided an announcement.
Tuas Limited has announced a Share Purchase Plan (SPP) aimed at raising up to A$50 million, following a successful institutional placement that raised approximately A$385 million. The funds from the SPP and placement will be used to partially finance the acquisition of M1 Limited, excluding its information and communications technology businesses. The SPP is open to eligible shareholders in Australia and New Zealand, with shares offered at a discount to recent trading prices. This initiative is part of Tuas’s strategy to strengthen its market position through strategic acquisitions.
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 is a company operating in the telecommunications industry, focusing on providing communication services and solutions. The company is listed on the Australian Securities Exchange under the ticker ASX:TUA and is involved in strategic acquisitions to enhance its market position.
Average Trading Volume: 1,037,131
Technical Sentiment Signal: Buy
Current Market Cap: A$4.09B
See more insights into TUA stock on TipRanks’ Stock Analysis page.