Why are ASX-listed stocks PBH, HNG, DCC on investors’ radar today?

Highlights

  • PointsBet has been appointed as Austin FC’s Exclusive Sportsbook Partner through an exclusive agreement.
  • HGL and Cellmid Ltd. have signed a share sale agreement for its 100% owned subsidiary BLC Cosemtics’ merger with Cellmid.
  • DigitalX is set to acquire 100% of Sell My Shares aiming progression in the commercial development of its Drawbridge product.
  • The S&P/ASX200 closed higher today, rising 43.2 points or 0.582% to 7,460.20.

The Australian share market closed higher on Thursday, recouping previous session losses. The easing of lockdown cheered the market. Further, the jobless data also helped to keep the market in the green today.

The breadth of the market was strong with all 11 sectors ending the day’s trade in the positive terrain.

Let’s look at few companies that created a buzz on the Australian Securities Exchange (ASX) today and grabbed investors’ attention.

PointsBet Holdings Ltd. (ASX: PBH) and Austin FC become partners

PointsBet’s wholly owned subsidiary PointsBet Texas LLC and Austin FC of Major League Soccer (MLS) have signed an agreement; following which PointsBet becomes an Exclusive Sportsbook Partner of AFC.

Strategic partnership between two companies

Image Source: © Pavelpetrov3d|Megapixl.com

Also, PointsBet has signed a market access agreement with AFC’s home stadium to be the exclusive partner of the venue for sports betting operations in Texas. The contract terms make PointsBet eligible to receive permanent onsite recognition at Austin FC’s new Q2 Stadium as the club’s Exclusive and Official Sports Betting Partner.

PBH stock was trading at AU$9.380 on the ASX today, with market capitalisation of AU$2.52 billion.

Also read: PointsBet (ASX:PBH) selected as NFL approved sportsbook operator

HGL Ltd (ASX: HNG) announces merger of its subsidiary BLC Cosmetics with Cellmid

HGL and Cellmid Ltd have signed a share sale agreement for its 100% owned subsidiary BLC Cosemtics’ merger with Cellmid to form a single anti-aging health and beauty tech company that will offer high-grade products across hair care, skin care and supplements. Cellmid will be acquiring 100% of the shares in BLC.

In the first tranche of the transaction, Cellmid will pay a total of AU$3 million on settlement, of which AU$2 million will be payable by the issuing of 32,786,885 Cellmid shares at 6.1 cents each. The second tranche will be equivalent to three times the incremental EBITDA growth over FY21.

The merger is expected to trigger revenue growth through expanded product range, broader customer base and integrated sales channels in Australia and New Zealand.

HGL closed the day’s trade at AU$0.250 with market capitalisation of AU$44.72 million.

DigitalX Ltd. (ASX:DCC) acquires Sell My Shares

Merger and acquisition of two entities

Image Source: © nespix|Megapixl.com

DigitalX has signed a deal for acquisition of all the shares of Sell My Shares, a market leader in online share execution services such as one-off share sales. The company has carried off the acquisition deal aiming progression in the commercial development of its Drawbridge product. Also, it is in line with the company’s mission to be a leading financial technology and regulatory technology businesses.

DigitalX will pay upfront consideration of AU$1,640,000 and deferred consideration of AU$250,000. The one entity post completion of the merger will serve as a compliant platform for trading by employees of its wide network of listed company customers.

DCC share closed the day’s trade up over 10.44% at AU$0.074 today.

Also read: DigitalX (ASX:DCC) skyrocketed by over 16% backed by growth in bitcoin adoption

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