Corporate Action - Do Not Participate in Link Administration SPP
As expected, narrow moat-rated Link Administration has followed its institutional equity raising with a share purchase plan, or SPP, offer. Under the SPP, Australia and New Zealand-domiciled shareholders who were on the Link shareholder register at 7:00pm on April 16, 2018, can apply for between AUD 510 and AUD 14,994 worth of shares at AUD 8.50 per share. The SPP offer opened on April 26, 2018 and will close on May 16, 2018.The offer price is broadly in line with our AUD 8.48 fair value estim...
Link Administration Holdings provides technology-enabled outsourced administration services to companies, asset owners, and trustees in Australia. Co. operates through Fund Administration, Corporate Markets, and Information, Digital, and Data Services segment. The Fund Administration segment provides administration services to superannuation funds; Corporate Markets offers a comprehensive and integrated corporate market offering that connects issuers with their stakeholders; and Information, Digital, and Data Services provides core services of development and maintenance of proprietary IT systems and platforms.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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