AUS
NZ
UK
CA
USA
FRA
GER
ESP
ITA
NLD
PRT
SWE
GRC
IND
POL
BRA
ZAF
RUS
CHN
UAE
On 12 March 2019, the technology company, Appen Limitedâs stock witnessed a decline in its share price despite announcing the successful completion of Institutional placement. At the same time, leading technical service provider, WorleyParsons Limitedâs stock climbed up by over 2% on ASX in the intraday trade. Letâs have a closer look at the recent updates of these stocks-
Appen Limited (ASX:APX)
Technology company, Appen Limited (ASX:APX) has successfully completed a fully underwritten AUD$285 Mn institutional placement at an offer price of AUD$21.50 per new share. The funds from the placement will be used to fund the upfront consideration for the acquisition of Figure Eight Technologies, a best in class machine learning software platform. Despite this news, the share price of Appen Limited decreased by 9.151% in the intraday trade as on 12 March 2019.Â
While commenting on the placement, the companyâs Managing Director and CEO, Mr. Mark Brayan informed that the placement was well supported by its existing institutional shareholders. It is expected that the settlement of the Placement will occur on 15 March 2019.
The company is also going to conduct an offer of New Shares under a share purchase plan (SPP) to existing shareholders which will allow them to apply for up to $15,000 of new Appen shares. It is expected that Appen Limited will raise a maximum of A$15 million from SPP.
Meanwhile, in the last three months, the share price of Appen Limited increased by 93.26 percent as on 11 March 2019. APXâs shares last traded at $22.140 with a market capitalization of circa $2.6 billion as on 12 March 2019.
WorleyParsons Limited (ASX:WOR)
The share price of WorleyParsons Limited (ASX:WOR) went up by 2.179% today. The company is mainly involved in technical services along with a wide range of consulting and advisory services to its customers.
WorleyParsons recently released its half-year results for FY19 in which it reported double-digit revenue growth and improved EBIT and NPAT margins for H1 FY19. For the half-year period, the company reported a statutory net profit after tax (NPAT) of $82.4 million and aggregated revenue of $2,566.2 million. Aggregated revenue increased by 11.1% in H1 FY19 as compared to pcp, driven by the improved market conditions as well as the inclusion of a full 6 months of revenue from the UK Integrated Solutions business. The company reported Cash flow from operations of $21.0 Mn, down from $44.3 Mn for the prior corresponding period (pcp). During the half year period, the companyâs net debt increased to $783.9 Mn up from $662.5 Mn at June 2018. As at 31 December 2019, the company had a Net debt to EBITDA ratio of 2.1x and gearing at 25.7%.
The Companyâs Board of Directors have announced an interim dividend of 12.5 cents per share, with a record date of 27 February 2019, to be paid on 27 March 2019.
In the last six months, the share price of WorleyParsons Ltd declined by 28.89 percent as on 11 March 2019. WORâs shares last traded at $14.070 with a market capitalization of circa $6.34 billion as on 12 March 2019.
Disclaimer
This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold. We are neither licensed nor qualified to provide investment advice.
