Stocks of the Hour: Air NZ, Baby Bunting & Galan Lithium

Company News

by Lauren Evans

Air New Zealand (ASX:AIZ) deferred its planned capital raise until 2022. The New Zealand airline received a letter from the Minister of Finance, noting that the environment is not stable enough at this time to provide a firm pre-commitment from the Crown. Shares in Air New Zealand (ASX:AIZ) are trading 1.1 per cent higher at $1.42.

Maternity and baby goods retailer Baby Bunting (ASX:BBN) recorded total sales of $468.4 million in FY21, up 15.6 per cent from the prior year. Net profit after tax reached $17.5 million, up 76 per cent from the prior year. Shares in Baby Bunting Group (ASX:BBN) are trading 4.5 per cent lower at $5.71.

Galan Lithium (ASX:GLN) received firm commitments to raise $50 million through a two-tranche placement to institutional investors. Placement funds will be used to accelerate Galan’s existing lithium projects. Shares in Galan Lithium (ASX:GLN) are trading 4.3 per cent lower at $1.23.

Click on the ASX code for the full story.

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.