Transurban Group (ASX:TCL)
has raised $2.9 billion via institutional placement. This comes after the company launched an equity raising on Monday to acquire the remaining 49 per cent stake in WestConnex from the NSW Government for $11.1 billion. For retail investors who want to jump in on the deal, applications will be open next Monday. Shares in Transurban Group (ASX:TCL)
closed 0.4 per cent lower at $14.00.
Premier Investments (ASX:PMV)
has almost doubled its profits for the financial year 2021 on the back of a surge in demand for Peter Alexander sleepwear and Smiggle stationery as students go back to school. The retail chain owner, which also owns Portmans, Just Jeans, and Dotti, reported after-tax profit of $271.8 million, up 97.3 per cent for the period. Shares in Premier Investments (ASX:PMV)
closed 3.1 per cent higher at $27.63.
Washington H. Soul Pattinson (ASX:SOL)
is slated to reward investors with the company’s highest dividend in 19 years, after its profits nearly doubled in the financial year 2021. Its after-tax profit did fall 71 per cent compared to the year before to $273.2 million. So why was this fall so large? It was due to a one-off accounting gain of over $1 billion after TPG merged with Vodafone. This resulted in the company’s profits looking large last year and less attractive this year. Shares in Washington H Soul Pattinson (ASX:SOL)
closed 6 per cent higher at $37.74.
Turning to Brickworks (ASX:BKW)
, in which Soul Pattinson has a 40 per cent stake, the company has booked a 20 per cent fall in after-tax profits to $239.2 million for the year ending July 2021, as costs related to its stake in Soul Pattinson weighed. The company said there was “a large one-off profit” relating to Brickworks’ stake in the investment house. However, shareholders don’t need to be concerned, as Brickworks has lifted its dividend for the period. Shares in Brickworks (ASX:BKW)
closed 2.4 per cent higher at $25.06.
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