- Promisia Healthcare allots new shares to institutional investors.
- QEX Logistics announced the acceptance of its delisting request.
- New Zealand Rural Land Company declares rights offer; the last date kept as 23 June.
- Accordant Group delivers an impressive FY21 performance.
Small-cap companies often prove to be a boon for investors who have high-risk tolerance and want to generate higher and faster returns from their investments.
Having high-growth potential, these small-cap companies may become large-cap companies with sustained growth and development.
Source: Copyright © 2021 Kalkine Media
Let us quickly look at the 5 NZX small-cap companies.
Promisia Healthcare Limited
Promisia Healthcare Limited (NZX:PHL) has a market capitalisation of about ~NZ$21.3 million.
It had recently notified its stakeholders about the allotment of more new shares worth NZ$250,000.
Earlier in March, it had announced raising NZ$1.7 million through SPP, which would be utilised towards meeting its working capital requirements and allotting $450,000 of new shares to many institutional investors.
On 28 May, Promisia Healthcare closed the market session flat at NZ$0.001.
QEX Logistics Limited
QEX Logistics Limited’s (NZX:QEX) market capitalisation stands nearly at NZ$16.1 million. It has announced the acceptance of its delisting application by the NZX Regulation Limited to delist the Company from trading in the New Zealand stock market.
However, the approval from its shareholders is required.
Also, QEX has been mandated to furnish a cash bond of NZ$200,000 and pay for delisting fees, etc., to the NZX Board.
On 28 May, QEX Logistics closed the market session flat at NZ$0.285.
New Zealand Rural Land Company Limited
New Zealand Rural Land Company Limited’s (NZX:NZL) market capitalisation is measured approximately at NZ$67.1 million.
It has recently disclosed raising capital worth NZ$44.3 million through the rights issue. The funds obtained would be utilised towards debt reduction and ensuring sufficient cash for further growth strategy.
Moreover, on 1 June, the Company intends to purchase 15 dairy assets worth NZ$122.74 million.
NZL will close its rights offer on 23 June and the new shares would commence trading from 28 June onwards.
On 28 May, New Zealand Rural Land Company closed the market, declining by 0.89% at NZ$1.110.
NZ Automotive Investments Limited
NZ Automotive Investments Limited (NZX:NZA) boasts of a market capitalisation of about NZ$48 million.
It is a New Zealand-based used automotive group, which carries its operations under automotive retail and vehicle finance. The Group will declare its annual results on 28 May.
It had earlier forecasted its FY21 NPAT to lie between NZ$3.3 million-NZ$3.7 million.
On 28 May, NZ Automotive Investments closed the market session flat at NZ$1.070.
Accordant Group Limited
Accordant Group Limited’s (NZX:AGL) market capitalisation is valued at ~NZ$46.3 million. It has delivered a handsome performance for the year ended 31 March 2021.
The Group delivered an increased PAT of NZ$6.2 million for FY21. It had recorded the revenue amounting to NZ$205 million for the said duration.
With the help of the Government’s wage subsidies, it was able to retain most of its staff.
AGL maintained a strong balance sheet with operating cash flows of NZ$21.9 million in contrast to FY20’s NZ$9.9 million.
The Group will pay a final dividend of 8.2 cps on 30 June 2021.
On 28 May, Accordant Group closed the market session, rising by 2.27% at NZ$1.320.