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Vulcan Steel Ltd. ( (AU:VSL) ) has shared an announcement.
Vulcan Steel Ltd. has announced its acquisition of Roofing Industries Limited, a New Zealand-based metal roofing and cladding manufacturer, along with certain assets of associated businesses. This acquisition is funded through a fully underwritten pro rata accelerated renounceable entitlement offer of new ordinary shares to eligible shareholders. The move is expected to enhance Vulcan’s market position in the metal roofing sector, although there are risks associated with the accuracy of the financial information provided by the vendor and potential undiscovered liabilities.
The most recent analyst rating on (AU:VSL) stock is a Hold with a A$6.50 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 manufacturing and distributing metal products. The company is involved in providing steel solutions and services, catering to various sectors including construction and manufacturing.
Average Trading Volume: 71,461
Technical Sentiment Signal: Sell
Current Market Cap: A$861.9M
For detailed information about VSL stock, go to TipRanks’ Stock Analysis page.