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Vulcan Steel Ltd. ( (AU:VSL) ) has issued an update.
Vulcan Steel Ltd. announced a change in its substantial holding, with Mayoral Trust Limited, as trustee of the Vulcan Continuity Trust, reducing its stake from 5.515% to 4.970%. This change was primarily due to the completion of Vulcan Steel’s accelerated renounceable entitlement offer, which resulted in the issuance of new shares. The adjustment in shareholding reflects the company’s strategic financial maneuvers to enhance its market presence and shareholder value.
The most recent analyst rating on (AU:VSL) stock is a Hold with a A$5.50 price target. To see the full list of analyst forecasts on Vulcan Steel Ltd. stock, see the AU:VSL Stock Forecast page.
More about Vulcan Steel Ltd.
Vulcan Steel Ltd. operates in the steel industry, focusing on the production and distribution of steel products. The company is listed on the New Zealand Exchange (NZX) under the ticker VSL and engages in various market activities to maintain its position in the industry.
Average Trading Volume: 45,185
Technical Sentiment Signal: Strong Buy
Current Market Cap: A$1.06B
Learn more about VSL stock on TipRanks’ Stock Analysis page.