Booktopia block flies as shares after hitting record price News30 Aug 2021

Just as earnings season is coming to an end, another block trade has emerged to kick-start the week.

 

A parcel of $62 million worth of Booktopia shares exchanged hands early on Monday, driving the company’s share price lower despite the business beating its already upgraded prospectus sales forecasts.

 

Sources said Shaw and Partners was tapped for the sale, which fits because it was one of the two brokers on board for its ASX listing last year.

 

Priced at $2.80 per share, the offer took place at a 6 per cent discount to Friday’s closing price of $2.99 - a record high for the stock.

 

The business has undoubtedly been a beneficiary of the COVID-19 pandemic. Having recorded $223 million in sales, it is now eying $500 million in the next few years.

 

Already its sales are up more than 10 per cent for July and August in the 2022 financial year.

 

On Monday Booktopia chief executive Tony Nash revealed the company was looking for acquisitions locally and overseas in retailing, publishing and distribution to boost the company’s existing operations and underpin further growth.

 

Having listed with a $2.30 issue price last year, the business is trading up more than 20 per cent since it debuted in December.

 

Article source: AFR, 30 August 2021

Related Articles
News20 Sep 2021 Healthia raising $60m to buy Back in Motion’s 64 physiotherapy clinics
ASX-listed diversified healthcare group Healthia is raising $60 million to fund the acquisition of 64 physiotherapy clinics from Back in Motion.   Heathia will split the raise as a... Read More
News13 Sep 2021 Superhero snaps up $15m via Shaw and Partners, IPO in new year Share trading
Share trading group Superhero has raised $15 million in a private funding round targeted see it through to an initial public offering slated for early next year. It is understood... Read More
News10 Sep 2021 Shaw and Partners picks up five new advisers, moves to $30b AUM
Shaw and Partners boss Earl Evans has unveiled five new private client advisers for the firm’s offices across the country.   It is understood Shaw management told staff on Thursd... Read More
News10 Sep 2021 Shaw and Partners extends its sponsorship of the Manly Sea Eagles
Manly Warringah Sea Eagles have received a further boost heading into week one of the NRL finals with Shaw and Partners Financial Services confirming a two year extension of their ... Read More
A - Z  % Change  
{{data.Symbol}} {{data.CompanyName}} {{data.Close}} {{data.AsAt | date :'shortTime'}} {{data.Movement | number : 2}} {{data.MovementPercent | number: 2}}%