- ASX 200 index is moving up on ASX.
- Transurban has completed the institutional component of its fully underwritten accelerated pro-rata renounceable 1 for 9 entitlement offer.
- SeaLink signed a binding agreement to form an incorporated JV with RATP Dev UK Ltd.
- Copper prices moved up, and gold prices declined.
ASX 200 started the day in the green zone on the back of tech stocks rising in sync with Wall Street, which ended the session sharply higher post the US Federal Reserve indicated to taper its stimulus soon. At AEST 1:46 AM, S&P/ASX 200 index is trading at 7374.20, up 1.06% from the previous close.
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Amid the existing market situation, let us look at five things that might be interesting to watch today.
Transurban’s (ASX:TCL) Capital raise:
Transurban announced the successful completion of the institutional component of its AU$3.97 billion fully underwritten accelerated pro-rata renounceable 1 for 9 entitlement offer. The proceeds would support the Company in the acquisition of a 49% equity stake in WestConnex. The Institutional Entitlement Offer attracted strong demand from TCL’s institutional shareholders. The shares were placed under a trading halt, and it would be interesting to see how the shares would react following this update.
Image Information: Capital Raise, TCL
SeaLink Joint Venture (ASX:SLK)
On 22 September 2021, SeaLink announced that it signed a binding agreement to form an incorporated joint venture (JV) with RATP Dev UK Ltd. As per this agreement, Tower Transit Westbourne Park London bus operations would be transferred into a newly incorporated JV with RATP Dev UK Ltd. The JV would hire 4,000 staff, run 1,250 buses on 115 routes from 10 garages in Western London which are expected to generate £275 million yearly. On 23 September 2021, the shares started trading at AU$9.200, up 3.487% from their previous close. It would to interesting to watch how shares would perform today.
Zip Co Limited (ASX: Z1P)
BNPL player Zip Co Limited entered the high growth Indian BNPL market via its strategic investment in ZestMoney. ZestMoney is amongst the biggest and fastest-growing BNPL platforms in India. It has more than 10,000 online merchants on the platform and has a point of presence across 75,000 physical stores.
The announcement on 22 September 2021 fuelled Z1P shares on ASX. On 23 September 2021, the shares were trading at AU$6.790 at the time of writing, up 4.301% from the previous close.
Increase in Copper Prices
On 22 September 2021, copper prices moved up 4% on relief that China's Evergrande would pay interest on a domestic bond. Following this update, many ASX listed copper players like OZL Limited (ASX:OZL) and Sandfire Resources (ASX:SFR) noted a surge in their share prices.
It would be interesting to see how these shares would trade on the day.
Fall in Gold price
Gold futures remain on the backfoot for consecutive two days. The gold prices dropped in spite of the US Federal Reserve holding rate steady. ASX listed gold players like Northern Star Resources Ltd (ASX:NST), and Evolution Mining Limited (ASX:EVN) are seen trading in the red zone.
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