SYDNEY: Aussie Broadband Limited (ASX:ABB), one of the leading broadband providers in Australia, has made a non-binding offer to buy out its rival Superloop (ASX:SLC) in an all-share transaction. The proposal values Superloop at $0.95 per share, based on the last closing price of ABB shares ($4.53 on 23 February 2024). This represents a 33.2%…
Adore Beauty reports solid H1 FY24 results
SYDNEY: Adore Beauty Group Limited (ASX: ABY), Australia’s number one pureplay online beauty retailer, has announced its financial results for the six months ended 31 December 2023 (H1 FY24), showing revenue growth, profitability improvement, and strategic progress. The Company reported revenue of $100.7 million, up 7% on the prior corresponding period (PCP), driven by record…
Pioneer Credit acquires debt portfolio from Max Recovery Australia
SYDNEY: Pioneer Credit Limited has acquired a significant Part IX (Insolvency) Debt Portfolio from Max Recovery Australia Pty Ltd (‘Max’) for a total consideration of $15.8m. Max Recovery Australia recently undertook a strategic review of its Australian operations and decided to exit the Australian market and sell its Australian-based Debt Portfolio. Notably, Pioneer has been…
Summerset Group posts record profit and growth despite challenges
SYDNEY: Summerset Group Holdings Limited, a leading retirement village operator in New Zealand and Australia, announced a record underlying profit of NZ$190.3 million for 2023, up 11.0% from 2022. The company also reported its second highest ever net profit after tax of NZ$436.3 million. Summerset Chief Executive Scott Scoullar said the company had a very…
CDL Investments reports lower profit but optimistic outlook for 2024
AUCKLAND: CDL Investments New Zealand Limited (NZX: CDI), a residential property developer, announced its results for the year ended 31 December 2023 today. The company reported a profit after tax of $13.5 million, down from $31.2 million in 2022, due to the difficult market conditions and the absence of one-off gains. However, the company’s Chairman…
Goodman Property Trust to internalise management, launch funds platform
Goodman Property Trust (GMT), a leading owner of Auckland logistics property, has announced a proposal to internalise its management and establish a property funds management business. The proposal, which requires Unitholder and other approvals, would end the existing external management arrangement with Goodman Group, an ASX-listed property group that has been GMT’s manager and cornerstone…
MENA’s EV Market to Boom by 2028, Experts Say
Electric vehicles (EVs) are on the rise in the Middle East and North Africa (MENA), with the market expected to reach US$7.65 billion by 2028, according to a recent study by Deloitte. This was the main topic of discussion at a high-level roundtable hosted by Sustainability Forum Middle East (SFME), a regional platform for net-zero…
ZTE’s 5G-A to unleash the full potential of 5G technology
ZTE Corporation, one of the world’s leading providers of information and communication technology solutions, is proud to unveil the highlights of 5G-A at the Mobile World Congress 2024. This initiative aims to unleash the full potential of 5G technology and create infinite value. Green infrastructures pursue the perfect bit-watt curve ZTE’s 5G-A adopts a green…
H2U raises over $10 million in Series B funding, aims to become Asia’s digital health unicorn
H2U, Taiwan’s leading digital health brand, announced that it has raised over 10 million USD in its Series B round of funding before the lunar new year. The round was led by Korea’s largest medical laboratory, Seoul Clinical Laboratories (SCL), and joined by Taiwan’s biggest food company, Standard Foods, the leading protein and antibody reagent…
IMC to build a new integrated hospital in Jeddah
RIYADH: The International Medical Center Company (IMC), an associate company of Dallah Healthcare, has signed two agreements with specialized consulting companies for a new hospital project in Jeddah. The first agreement, worth 11 million Saudi Riyals, is with Dar Al-Handasah Company for the design of the new hospital, which will be built on a land…
Kinan International delays IPO on Nomu after CMA approval
RIYADH: Kinan International Real Estate Development Company, advised by Saudi Fransi Capital, has postponed its planned Initial Public Offering on the Parallel Market (Nomu) due to recent developments. The company had received approval from the Capital Market Authority (CMA) to offer 3.6 million shares, or 3% of its share capital, to Qualified Investors for a…
Saudi Lime Industries acquires Astra Mining for 164.6 million riyals
RIYADH: Saudi Lime Industries Company (SLIC) has signed a conditional binding agreement with Astra Industrial Group (AIG) and Tharawat Mining Company (TMC) to acquire 100% of the shares of Astra Mining Limited Company (AML), a leading producer of quicklime and hydrated lime in Saudi Arabia. The deal, which is expected to be completed within three…