Stocks of the Hour: REA Group, Link Administration & Nuix

Company News

by Michael Luu

Digital real-estate marketplace operator REA Group (ASX:REA) is set to trade its South East Asian platforms for an interest and a board directorship in Asia's largest online property portal PropertyGuru

Shares in REA Group (ASX:REA) are trading 0.6 per cent lower at $163.44.

Fintech powerhouse Link Administration (ASX:LNK) has confirmed a plan to float property transaction processor PEXA, in a bid to fend off buyout interest from other companies. The $2.9 billion ASX-listed group has today informed investors of its intention to upgrade its interest in PEXA to 47 per cent and list the company on the ASX. The listing is tipped to be the biggest initial public offering (IPO) since 2019.

Shares in Link Administration Holdings (ASX:LNK) are trading 6.4 per cent lower at $5.10.

Beleaguered analytics specialist Nuix (ASX:NXL) has trimmed its annualised business guidance for the second time since its float in December, due to contractual uncertainty. The data solutions provider has downsized its pro forma revenue outlook from between $180 million and $185 million to a range between $173 million and $182 million.

Shares in Nuix (ASX:NXL) are trading 17.8 per cent lower at $2.77.

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