TPG, SEK, DXS: Why did these ASX stocks remained in news today?

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TPG, SEK, DXS: Why did these ASX stocks remained in news today?

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TPG Telecom Limited (ASX:TPG) shares
Image source: © Rummess | Megapixl.com

Highlights

  • The S&P/ASX 50 Index closed at 6,945.30, up 0.20% or 14.00 points today.
  • ASX 200 Index was also 0.27% higher and closed at 7,112.50 points.

The S&P/ASX 50 Index is a market capitalisation weighted and float-adjusted index. The top 50 corporations by market capitalisation are usually referred to as the "Big 50."

Market capitalisation is used to rate all firms listed on the Australian Securities Exchange (ASX), with the exception of listed investment companies (LICs) and exchange-traded funds (ETFs). Following that, only the top 50 ASX equities that meet volume and investment benchmarks are evaluated for inclusion in the index.

The S&P/ASX 50 Index closed at 6,945.30, up 0.20% or 14.00 points today (17 May 2022), while the ASX 200 Index was also 0.27% higher and closed at 7,112.50 points.

In this article, we will discuss three ASX 50 companies including TPG Telecom Limited, SEEK Limited and Dexus.

Image Source: © 2022 Kalkine Media ®

Data Source- Companies’ ASX releases

TPG Telecom Limited (ASX:TPG)

TPG Telecom Limited is an Australian telecommunications company that runs mobile and landline networks across the country. The company's brands include TPG, AAPT, iiNet, Internode, Vodafone, Lebara, and Felix.

Last week (on 9 May 2022), the company stated that it had signed a deal with OMERS Infrastructure Management Inc to sell its passive mobile tower and rooftop infrastructure (Tower Assets) for AU$950 million.

Through 1,237 existing sites, mostly in key metropolitan areas, and a committed build-to-suit development programme of 252 new sites, the transaction implies a 32.1 times enterprise value/EBITDA multiple, reflecting the important role the Tower Assets will play in supporting the industry's projected growth and densification requirements.

TPG shares closed at AU$6.06 per share, up 0.33% on ASX today (17 May 2022). The company has a current market capitalisation of AU$11.23 billion, and around 1.47 million shares have been traded today on ASX on Tuesday.

TPG shares have grown around 3% year-to-date.

Also Read: TPG Telecom (ASX:TPG) to sell its tower asset to repay bank debts

Dexus (ASX:DXS)

Dexus, an ASX-listed property management company, principally owns, maintains, and develops real estate assets and manages real estate funds for third-party investors.

The real estate investment company released its March quarter update on 3 May 2022.

During the quarter, Dexus sold AU$2.1 billion in assets as it continues to recycle capital into higher-yielding opportunities, such as the AU$17.8 billion development pipeline.

Source: © Roberto1977 | Megapixl.com

Dexus' industrial portfolio occupancy by income fell to 97.5% from 98.6% (31 December 2021) due to tenant departures at business park assets. The occupancy rate by income was 98.8%, except for business parks (from 99.2% at HY22).

Dexus shares last traded at AU$10.64 a share on the ASX today, down 0.93%. The company's shares have recorded negative growth of around 4% year-to-date.

Also Read: Dexus (ASX:DXS) lifts distribution guidance, shares gain

SEEK Limited (ASX:SEK)

SEEK Limited is an online job search company which focuses on online job postings and related services for both employers and job seekers. It also invests in early-stage human resource management companies and technology and the distribution and delivery of higher education courses.

SEEK's business segments include SEEK Asia Pacific & Americas (AP&A), SEEK Portfolio Investments, and Corporate Costs.

Shares of SEEK fell 4.33% today (17 May 2022) and closed trading at AU$24.30 per share on ASX. The shares have declined around 26% year-to-date.

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