Why is Domino’s Pizza (ASX:DMP) in the news today?

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 Why is Domino’s Pizza (ASX:DMP) in the news today?
Image source: © Joeppoulssen | Megapixl.com

Highlights:

  • Domino’s Pizza has raised AU$150 million to buy out German operations.
  • The pizza chain will be using the money to take complete control of its German joint venture operations.

Major pizza chain Domino’s Pizza Enterprises Limited (ASX:DMP), on 2 December 2022, shared that it has successfully completed its AU$150 million placement of approximately 2.3 million shares to institutional investors.

As per DMP release, the placement’s offer price was priced at AU$66.38 per new share. This was the closing price on Wednesday, 30 November 2022.

Meanwhile, on Friday, the shares of DMP closed 0.030% lower at AU$66.360 apiece on the ASX.

Key highlights from Domino’s release:

  • Domino’s Pizza Enterprises shared today (2 December 2022) that it has successfully completed its AU$150 million fully underwritten placement.
  • The placement featured 2.3 million new shares to the institutional investors.
  • The placement price stood at AU$66.38 per new share. This was the closing price of the shares on 30 November 2022.
  • Domino’s informed that the raised fund will be used for the acquisition of all the shares possessed by the Domino’s Pizza Group’s German joint venture.

Recent share price performance of Domino’s Pizza on the ASX:

Domino’s shares have shed 0.05% in the last five trading days on the ASX. In the last one month, the shares have gained 24.52% on the ASX. In the last six months, the shares have lost 0.81% and in the last one year, the shares have declined by 46.78% on the ASX. However, looking at the broader picture, in the last five years of trade, the shares of this Pizza chain have surged 40.81% on the ASX (as of 4:10 PM AEDT, 2 December 2022).

Domino’s Pizza Enterprises CEO Don Meij said:

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