Stocks of the Hour: Telstra (ASX:TLS), Andromeda (ASX:ADN), Nuix (ASX:NXL)

Company News

by Lauren Evans

Telstra have announced that Future Fund, Commonwealth Superannuation Corporation and Sunsuper will become a strategic partner in Telstra InfraCo Towers after agreeing to acquire a 49 per cent interest. Telstra expects net cash proceeds after transaction costs of $2.8 billion at completion and the Towers entity will have no debt. Shares in Telstra Corporation (ASX:TLS) are trading 4.4 per cent higher at $3.76.

Andromeda Metals (ASX:ADN) have successfully completed a $30 million placement to sophisticated investors. The company will undertake a $15 million share purchase plan (the SPP) to eligible shareholders on the same terms as the placement. Shares in Andromeda (ASX:ADN) are trading 13.9 per cent lower at $0.15.

Technology company Nuix (ASX:NXL) have announced that the Australian Securities and Investments Commission (ASIC) are conducting an investigation into Nuix’s former Chief Financial Officer, Stephen Doyle and family members Ross and Ronald Doyle. Shares in Nuix (ASX:NXL) are trading 13.2 per cent lower at $2.21.

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