ASX 200 midday update: ANZ’s capital raising, Link jumps, Zip’s Q4 update

At lunch on Thursday, the S&P/ASX 200 Index (ASX: XJO) is on course to record a small decline. The benchmark index is currently down 0.1% to 6,754.1 points.

Here’s what is happening on the ASX 200 today:

ANZ shares edge lower

The Australia and New Zealand Banking Group Ltd (ASX: ANZ) share price is edging lower on Thursday. This follows the completion of the institutional component of the banking giant’s capital raising. ANZ raised gross proceeds of approximately $1.7 billion at a 12.7% discount of $18.90 per new share. These funds are being used for the acquisition of the banking operations of Suncorp Group Ltd (ASX: SUN).

Link accepts takeover offer

The Link Administration Holdings Ltd (ASX: LNK) share price is zooming higher after Dye & Durham agreed to increase its takeover offer again. Dye & Durham has lifted its offer from $4.57 per share to $4.81 per share and Link is recommending shareholders vote in favour of the proposal. Shareholders will also be entitled to a 13 cents per share consideration from the potential sale of Link’s BCM business.

Zip share price higher on Q4 update

The Zip Co Ltd (ASX: ZIP) share price is pushing higher today. Investors have been buying the buy now pay later (BNPL) provider’s shares after responding positively to its quarterly update. Zip reported group quarterly revenue growth of 27% to $160.1 million from its 12 million customers. The company also revealed that it is closing down its Singapore, Zip Business, and Pocketbook businesses. It is also looking at options for other Rest of the World businesses, including the UK.

Best and worst ASX 200 performers

The best performer on the ASX 200 on Thursday has been the Telix Pharmaceuticals Ltd (ASX: TLX) share price with a gain of over 15%. This follows the release of a strong quarterly update. Going the other way, the worst performer has been the Imugene Limited (ASX: IMU) share price with a 5% decline on no news.

The post ASX 200 midday update: ANZ’s capital raising, Link jumps, Zip’s Q4 update appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has positions in TELIXPHARM DEF SET. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Link Administration Holdings Ltd and ZIPCOLTD FPO. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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