From Askari Metals to Splitit: Top five newsmakers on the ASX today 

Summary

  • Askari Metals has made a strong ASX debut, gaining as much as 35% to hit an intraday high of 27 cents.
  • Splitit Payment shares jumped 5.13% after BNPL announced the global launch of its in-store
  • The share price of Challenger surged nearly 14% after Apollo Global acquired a strategic stake in the company.
  • Woodside Petroleum declined nearly 3% to AU$23.64, owing to a fall in oil prices.
  • BetMakers shares rose over 4% on signing a multi-year live streaming agreement.

The Australian share market was trading higher on Wednesday, led by gains in tech, health care and telecom stocks. The market witnessed broad-based buying with eight of the 11 sectoral indices trading in the green. The information technology sector was the best performer, while energy space was among the top laggards.

Here are the top five stocks that hogged limelight today:

Askari Metals (ASX: AS2)

The Australian copper-gold exploration company made a strong debut on the ASX, surging 20% to 24 Australian cents against a listing price of 20 cents. Post listing, the stock gained momentum and rallied as much as 35% to hit an intraday high of 27 cents. The mining firm has successfully raised AU$5.75 million via public listing of shares. The company intends to use fund proceeds to explore and develop the portfolio of copper and copper-gold projects located in New South Wales and Western Australia.

Splitit Payment (ASX: SPT)

The buy-now-pay-later (BNPL) player saw its shares jump 5.13% to hit an intraday high of AU$0.615 after the company announced the global launch of its in-store offering. The move will empower its customers to use their credit cards to pay in instalments using Splitit for in-person and phone purchases from participating merchants. Splitit in-store solutions will facilitate shoppers to use ApplePay and GooglePay accounts via Splitit, using pay-by-link with a Splitit QR code, text message or email, when buying from participating merchants. As per the company, the platform was developed amid growing merchant demand, as evidenced by the recent signing of multiple new merchants to launch Splitit in-store. The company estimated that new merchants will add over USD$1 billion in combined addressable sales volume.

Challenger Ltd (ASX: CGF)

The share price of investment management firm rose as much as over 13.71% to AU$6.22 after the American private equity and alternatives firm Apollo Global acquired a strategic stake in the company. The firm along with its insurance affiliate Athene have agreed to acquire a 15% minority interest in the company from Caledonia (Private) Investments Pty Limited, an existing shareholder. With this, Athene and Apollo’s shareholding in the company will increase to 18% worth AU$720 million.

Woodside Petroleum (ASX: WPL)

The share price of Woodside Petroleum declined as much as 2.94% to AU$23.64, in line with other ASX-listed energy stocks which witnessed selling pressure on Wednesday, owing to a fall in oil prices. Crude oil prices tumbled on Tuesday after OPEC nations cancelled a meeting as major oil-producing nations could not reach an agreement for crude oil supply.

Meanwhile, the oil and gas major in an exchange filing said that it has completed its acquisition of FAR’s interest in the Rufisque Offshore, Sangomar Offshore and Sangomar Deep Offshore (RSSD) joint venture. A final completion payment of US$126 million was paid to FAR, while additional payments of up to USD$55million were made for contingent on future commodity prices and timing of first oil.

BetMakers Technology (ASX: BET)

Software firm BetMakers Technology (ASX: BET) rose over 4% to AU$1.15 after the company signed a multi-year live streaming agreement with Sports Information Services and Racecourse Media Group.

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