Stocks of the Hour: Star Entertainment, Myer & Evolution Mining

Company News

by Lauren Evans

Australia's largest department store, Myer (ASX:MYR), has secured a 10-year lease on a new 40,000 square metre facility in Victoria. The facility will be Myer's National Distribution Centre for both stores and online fulfilment. Shares in Myer Holdings (ASX:MYR) are trading 2.2 per cent lower at $0.46.

The Star Entertainment Group (ASX:SGR) has informed Crown Resorts (ASX:CWN) that it has withdrawn its bid to merge the two businesses after an incident at Victoria's Royal Commission. If the proposal went through successfully, it would have created a $10 billion gambling giant. Shares in The Star Entertainment Group (ASX:SGR) are trading 0.6 per cent lower at $3.53.

Evolution Mining (ASX:EVN) has announced that it has successfully completed a $400 million institutional placement of approximately 104 million new fully paid ordinary Evolution shares to institutional investors at $3.85 per share. Shares in Evolution Mining (ASX:EVN) are trading 5.7 per cent higher at $4.30.

Are you a 708 sophisticated investor?

A sophisticated investor is defined under Section 708 of the Corporations Act (net assets of $2.5 million or annual incomes in excess of $250,000).

They are eligible to receive information regarding wholesale investment opportunities that are not available to regular or retail investors.

Please subscribe if you would like to be alerted to these types of opportunities.