S&P/NZX50 Encountered Marginal Fall; PEB Shoots Up 18.97%

On July 24, 2020, S&P/NZX50 ended the session in red as the index witnessed a fall of 0.49% to 11,636 while S&P/NZX20 fell by 0.51% to 7,766. On the same day, S&P/NZX10 encountered a fall of 0.51% to 12,280.

S&P/NZX SmallCap Index rose by 1.41% while S&P/NZX All Consumer Staples witnessed a fall of 1.29%. We would now have a look at the performance of some individual stocks.

The share price of TruScreen Limited (NZX: TRU) ended the session in green as there was a rise of 16.92% on an intraday basis to NZ$0.076 per share. On the same day, the stock of New Talisman Gold Mines Limited (NZX: NTL) rose by 14.29% to NZ$0.008 per share.

The following image provides a broad idea as to how the share price of TRU has performed in the span of past one year:

Stock Performance (Source: NZX)

PEB Ended the Session in Green

Pacific Edge Limited (NZX: PEB) came forward and made an announcement that it has accepted investment offer amounting to $22 Mn from ANZ New Zealand Investments, NZ’s largest manager of third party money having NZ$33 Bn funds under management. PEB stated that it would be issuing 33,846,154 shares (in aggregate). As per the release, it would be done at NZ$0.65 per ordinary share. It is important to note that this implies a premium of 14% over VWAP (or volume weighted average price) for 5 day trading period prior to as well as including July 23, 2020.

The stock price of PEB rose by 18.97% on an intraday basis to NZ$0.690 per share.

BLT Provided Overview of Results

Blis Technologies Limited (NZX: BLT) provided an overview of the performance and the company stated that, in 2020, it continued to deliver against the objective of producing sustainable profitable growth. The company stated that revenues rose by 29% for the year, implying 33% CAGR over the last 5 years and its EBITDA amounted to $2.1 Mn, reflecting an increase of 130% on the last year.

Through the year, the company has managed to strengthen its revenue base with robust growth throughout the existing markets as well as consolidation of key new markets for BLIS branded product range.

The stock price of BLT fell by 3.61% to NZ$0.080 per share on July 24, 2020.


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