AUS
NZ
UK
CA
USA
FRA
GER
ESP
ITA
NLD
PRT
SWE
GRC
IND
POL
BRA
ZAF
RUS
CHN
UAE
Highlights
- IFM Global Infrastructure has acquired interest in 15% issued securities in Atlas Arteria.
- The securities were acquired at a price of AU$8.10 per security, Atlas’ yesterday’s closing price.
- Atlas’ share price has gained over 16% on the ASX today, backed by this update.
The shares of Atlas Arteria (ASX:ALX) were spotted trading 16.197% higher at AU$8.25 per share at 11:30 AM AEST on the ASX today (8 June). The ASX-listed transportation company garnered investors’ attention on Wednesday morning after the company revealed that IFM has acquired 15% interest in the issued securities of Atlas Arteria.
As a result, more than 5.4 million shares of Atlas Arteria have been traded within the short span of time after the ASX opened for trading on Wednesday morning.
The share price of Atlas has gained over 29% on the ASX over the past 12 months. On the other hand, Atlas’ year-to-date share price also gained over 19% (as of 11:30 AM AEST on the ASX today, 8 June).
What pushed Atlas Arteria’s share price on the ASX today?
Atlas Arteria shared a significant announcement of the ASX today, which could be the primary cause behind its share price gain.
Today, IFM Global Infrastructure Fund (IFM) has informed Atlas that it has obtained a combined relevant and economic interest in approximately 15% of the issued securities of Atlas Arteria.
IFM’s holding consists of securities acquired by IFM after market close yesterday at a price of AU$8.10 per security.
IFM also informed that it is planning to request Atlas Arteria to gain access to certain limited company information. It will further help IFM to understand whether it can submit a non-binding indicative proposal to Atlas Arteria to acquire all of its securities, which are not owned by IFM at this moment.
IFM has also informed that any proposal which is submitted will be subjected to fulfilling certain conditions and satisfactory completion of due diligence by IFM.
Meanwhile, Atlas Arteria said that it has neither received any such request for information nor any proposal from IFM to acquire additional securities in Atlas Arteria yet.
However, there is no certainty that any such acquisition proposal will be made by IFM. At present, Atlas Arteria security holders do not need to take any action related to this announcement.
Also read: Atlas Arteria (ASX:ALX) records profit as traffic rebounds in Europe
About Atlas Arteria:
Atlas Arteria is an ASX-listed transportation company with a market capitalisation of AU$6.80 billion. The company is a global owner, operator, and developer of toll roads. Atlas is also focused on creating value for its investors through disciplined management of its business.
As per the company, the roads owned and operated by Atlas are beneficial to communities through reduced travel time, greater time certainty, reduced fuel consumption and carbon emissions.
Atlas’ headquarter is situated in Melbourne, Australia.
