Medibank (ASX:MPL), Unibail-Rodamco-Westfield (ASX:URW) and Tyro Payments (ASX:TYR) Shares Price Action under the Lens

  • October 18, 2020 12:10 AM AEDT
  • Team Kalkine
Medibank (ASX:MPL), Unibail-Rodamco-Westfield (ASX:URW) and Tyro Payments (ASX:TYR) Shares Price Action under the Lens

Summary

  • Despite the S&P/ASX 200 index ending the session in the red zone, many ASX-listed big players managed to surge up considerably.
  • Medibank Private recently highlighted that Calvary and Medibank had been chosen as the provider for delivering ‘My Home Hospital’ in South Australia jointly.
  • Unibail-Rodamco-Westfield agreed with a consortium of French institutional investors for the sale of the SHiFT office building at €620 million.
  • Tyro Payments and Bendigo Bank partnered to build a long-term merchant acquiring coalition.

On 16 October 2020, benchmark index S&P/ASX 200 ended the session in the red zone. However, there are quite a few companies whose shares surged significantly driven by key recent developments.

In this article, we have chosen three ASX-listed companies that reported a significant growth in their share price, bringing them under the limelight. Let us look at the recent development of these companies and their performance.

Medibank Private Limited (ASX:MPL)

An integrated health company, Medibank Private Limited provides private health insurance along with health solutions to the Australian citizens.

From 24 August till 07 September 2020, the Company noted a massive drop in its share price. During September 2020, there existed uncertainty in the market. However, from  01 October 2020, the shares have moved in the upward direction. By the end of the day’s trade on 16 October 2020, the shares settled at A$2.73, up 3.018% from the previous close. MPL has a market cap of A$7.29 billion and ~2.754 billion outstanding shares.

Calvary-Medibank JV to provide My Home Hospital’ in SA:

Recently, on 02 October 2020, Medibank in its media release highlighted that Calvary and Medibank had been chosen as the provider to provide ‘My Home Hospital’ in South Australia jointly. Calvary-Medibank has been selected via a tender process. They have huge medical, nursing, and allied health experience that would ensure that they have appropriate skills to provide hospital-level services in the safety and comfort of home.

With this program, more people from South Australia would have hospital care delivered in the comfort of their own home. My Home Hospital would provide intense medical care in the home throughout the metropolitan and outer suburbs of Adelaide. Thus, qualified public patients would have more choice and convenience.

DO READ: 3 ASX Growth Stocks That Corrected Last Week - Afterpay, NEXTDC and Medibank

Unibail-Rodamco-Westfield (ASX:URW)

Unibail-Rodamco-Westfield shares performed strongly on 16 October 2020. The shares surged up by 12.08% and settled at A$3.34. URW has a market cap of A$8.25 billion and the shares settled near its 52-week high price. URW was the top performer of S&P/ASX200 on 16 October 2020.

Unibail-Rodamco-Westfield is the leading global developer & operator of flagship shopping destinations and its portfolio as of 30 June 2020 stood at €60.4 billion. URW’s total portfolio breakdown is as follows:

  • Retail: 86%
  • Offices: 7%
  • Convention & exhibition venues: 5%
  • Services: 2%

Unibail-Rodamco-Westfield’s Agreement to Sale SHiFT office:

On 12 October 2020, Unibail-Rodamco-Westfield announced that it agreed with a consortium of French institutional investors for the sale of the SHiFT office building at €620 million. The consortium comprises of Primonial REIM, La Française and EDF Invest.

The transaction depends on standard terms precedent and would likely to complete in January 2021.

The transaction is a component of URW’s €9+ billion RESET plan which aims to strengthen the balance sheet of the Company. It includes €4 billion of disposals expected to conclude by the end of 2021. Once the transaction gets completed, the Group would generate €5.3 billion of net disposal proceed since June 2018.

DO READ: Why did ASX-listed Shares Unibail-Rodamco-Westfield, FlexiGroup and Biotron end in the red zone?

Tyro Payments Limited (ASX:TYR)

From 16 July 2020 till 16 October 2020, Tyro Payments Limited shares improved from A$3.72 to A$4.15, representing a growth of ~11.56%. By the end of the day’s trade on 16 October 2020, the shares zoomed up by 5.867% from the previous close post the release of an announcement related to its partnership with Bendigo Bank. Tyro has a market cap of A$1.95 billion and was near its 52-week high price.

Tyro’s Alliance with Bendigo Bank:

On 16 October 2020, Tyro announce that it was entering into a partnership with Bendigo Bank to create a long-term merchant acquiring alliance.

Under the alliance, Bendigo Bank’s merchant acquiring clients would be offered Tyro’s card-present & card-not-present payments solutions, giving more functionality, more payment alternatives, improved reliability plus smooth cloud integration to over 300 points of sale (POS) systems.

Bendigo Bank would continue to provide these customers with all other banking services.

In 2021, Tyro expects to implement over 26k Tyro terminal for the partnership. Tyro’s Costs Linked with Alliance Implementation:

  • one-off project resourcing would be A$3.8 million.
  • one-off other project cost including terminals would be A$16.1 million.
  • ongoing additional personnel costs to aid the partnership would likely be A$6.7 million per annum.

Further, it is expected that business customers of Bendigo Bank will make ~ A$5 billion in transaction value in FY2022. Also, through this transaction, the Company gross profit share from the Bendigo Bank cohort would be ~ A$19 million in FY2022.

 

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