Stocks of the Hour: Pepper Money, Telix Pharmaceuticals & Iluka Resources

Company News

by Lauren Evans

Pepper Money (ASX:PPM) is set to acquire a 65 per cent stake in Stratton Finance for $78 million. It said the acquisition will help deliver an immediate avenue for its Asset Finance business, broaden its distribution footprint and provide Straton’s network access to its financial products. The deal is set to be completed in the third quarter of 2022. Shares are trading 4.4 per cent higher at $2.16.

Telix Pharmaceuticals (ASX:TLX) said its prostate cancer imaging agent, Illuccix® is now commercially available in the US. The product can be ordered from 117 cardinal health and pharmalogic pharmacies across the US. On another note, Telix is also putting forward marketing applications in Europe and Canada. Shares are trading 6.1 per cent higher at $4.53.

Meanwhile, mineral sands major Iluka Resources (ASX:ILU) is set to head into the rare earth sector after the board signed off on a $1.2 billion refinery build in WA. Iluka said the refinery will produce rare earth oxides that are critical inputs across a range of industries and technologies, including electric vehicles. Shares are trading 6.3 per cent higher at $12.25.

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.