Opportunistic Capital Raising Fills Link’s War chest. FVE Increased to AUD 8.48 Per Share.
We have increased our fair value estimate for narrow moat-rated Link Administration by 2% to AUD 8.48 per share following the institutional equity placement to raise AUD 300 million at AUD 8.50 per share, a 2.4% discount to the last closing price. The institutional placement will be completed on 18 April 2018 and will be followed by a share purchase plan, or SPP, which will also be priced at AUD 8.50 per share. We will provide our recommendation on the SPP following the release of the SPP Offer ...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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