Stocks of the Hour: Transurban, Bank of Queensland & PointsBet

Company News

by Lauren Evans

Roads developer Transurban (ASX:TCL) has wrapped up its $4.23 billion capital raising launched in September after completing the retail component of the entitlement offer, which closed at a $371 million shortfall. The offer was put in place to partly fund a 49 per cent stake in Westconnex. Shares in Transurban (ASX:TCL) are trading 0.6 per cent higher at $13.64.

Bank of Queensland (ASX:BOQ) reported solid cash earnings and an increase in its net interest margin for FY21, while expressing uncertainty for FY22. Cash earnings jumped 83 per cent from the prior year and net interest margin climbed 1 basis point. The bank expects net interest margin to decline by 5-7 basis points in FY22. Shares in Bank of Queensland (ASX:BOQ) are trading 4.8 per cent lower at $9.25.

PointsBet's (ASX:PBH) subsidiary PointsBet Canada is set to become the official and exclusive sports betting partner of Curling Canada. The deal will include broadcasting rights as the company plans to offer innovative ways for fans to engage with Curling Canada's sporting events. Shares in PointsBet (ASX:PBH) are trading 4.9 per cent higher at $10.13.

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