In today’s briefing:
- AUB Group (AUB AU): EQT’s NBIO at A$45.00
- Valuation vs Sentiment For Pilbara Minerals
- Readcloud Ltd – Australian schools proving the growth engine
AUB Group (AUB AU): EQT’s NBIO at A$45.00
- In response to an AFR article, AUB Group Limited (AUB AU) confirmed that on 26 September, it received a non-binding proposal from EQT (EQT SS) at A$45.00.
- While the offer represents an all-time high, it is arguably light compared to precedent transactions and peer multiples. EQT’s history of unsuccessful ASX tilts warrants some caution.
- The Board has granted a six-week exclusive due diligence period, which ends on 20 November. The shareholder structure reduces the vote risk.
Valuation vs Sentiment For Pilbara Minerals
- The US-Australia critical minerals investment agreement has driven lithium miner Pilbara Minerals’ share price on sentiment, well above fundamentals, on most assessments.
- US-Australia critical minerals deal sends miner share prices surging Pilbara Minerals posts solid September quarter beat Lithium prices remain below new production threshold Most brokers see Pilbara Minerals as overvalued
Readcloud Ltd – Australian schools proving the growth engine
- ReadCloud Limited (ASX:RCL) services the education and training sectors through the provision of digital learning content, proprietary interactive technology and support for students and educators.
- The company released its 4C September quarter activities report and a trading update containing data points for its upcoming FY25 full year result (September year-end).
- The company delivered a solid result in what is a seasonally quiet last quarter resulting in FY25 unaudited revenue of $12.9m (directly in line with RaaS forecast), representing 4.9% growth over FY24.
💡 Before it’s here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- ✓ Unlimited Research Summaries
- ✓ Personalised Alerts
- ✓ Custom Watchlists
- ✓ Company Data and News
- ✓ Events & Webinars
