Stocks of the Hour: MA Financial, Challenger & Corporate Travel Management

Company News

by Lauren Evans

MA Financial (ASX:MAF) is set to acquire BNK Banking’s mortgage business, Finsure for $145 million. An institutional placement will be conducted to raise $100 million at $7.75 per share. The company also upgraded its FY22 guidance. Shares in MA Financial (ASX:MAF) are in a trading halt and last traded at $8.45.

Annuities business Challenger (ASX:CGF) has appointed Nick Hamilton as managing director and CEO, replacing Richard Howes. Nick has been chief executive of Challenger’s Funds Management business since 2019, and will commence in his new role on January 1 next year. Shares in Challenger Exploration (ASX:CGF) are trading 1.5 per cent higher at $6.70

Corporate Travel (ASX:CTD) is set to acquire Helloworld’s corporate travel business with an enterprise value offer of $175 million. The deal will be structured with a $100 million cash payment and $75 million in Corporate Travel shares. Shares in Corporate Travel Management (ASX:CTD) are in a trading halt and last traded at $22.29.

 

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