Alcidion Group Ltd (ASX: ALC) shares will enter a trading halt this morning after the company’s early morning request.
Why are Alcidion shares in a trading halt?
The Aussie healthcare information company requested a trading halt from the market operator prior to this morning’s open. This comes ahead of an announcement to the market regarding acquisitions and capital raising.
Alcidion has requested a trading halt to remain in place until Friday’s market open. Alternatively, the halt will end when an announcement regarding the planned acquisition and capital raise is made.
That means Alcidion shares will not start trading on Wednesday unless an update is provided prior to 10 am AEST.
What does Alcidion do?
Alcidion is a Melbourne-based group combining information technology with healthcare solutions. The company focuses on developing and licensing a range of software products for use in the healthcare sector.
Alcidion operates across Australia, New Zealand, and the United Kingdom under brands such as Miya, Patientrack, and Smartpage. Alcidion has more than 65,000 users across more than 300 hospitals around the world.
How has Alcidion been performing recently?
As of Tuesday’s close, Alcidion boasts a market capitalisation of $332 million and closed just shy of a 52-week high. Alcidion shares have returned 86.5% for shareholders in the year to date and a whopping 580% in the last 5 years.
Shares in the Aussie healthcare informatics group will be worth watching this week. Particularly following the acquisition and capital raise update from the company.
Alcidion shares have been rocketing higher to start the year with a strong performance in late February and March. Much of that has been driven by newly developed partnerships on a global scale.
This includes hitting new 52-week highs on the back of new agreements with a New Zealand District Health Board (DHB) and East Lancashire Hospitals HS Trust in the UK.
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More reading
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- Why the Alcidion (ASX:ALC) share price is surging 5% higher
- Why these ASX shares are breaking out into record highs
Ken Hall has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Alcidion Group Ltd. The Motley Fool Australia has recommended Alcidion Group Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
The post Alcidion (ASX:ALC) shares are in a trading halt. Here’s why. appeared first on The Motley Fool Australia.
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