At lunch on Friday, the S&P/ASX 200 Index (ASX: XJO) is on course to end the week on a positive note. The benchmark index is currently up 0.55% to 7,335.6 points.
Here’s what is happening on the ASX 200 today:
Corporate Travel Management shares to return
The Corporate Travel Management Ltd (ASX: CTD) share price is falling on Friday after raising $75 million through an institutional placement. These funds were raised at a 5.8% discount of $21.00 per new share. Combined with an upcoming $25 million share purchase plan, the proceeds will support the acquisition of the Australia and New Zealand corporate and entertainment travel businesses of Helloworld Travel Limited (ASX: HLO).
Healius and Sonic announce acquisition
Pathology companies Healius Ltd (ASX: HLS) and Sonic Healthcare Limited (ASX: SHL) have both announced acquisitions this morning. Healius is acquiring leading bioanalytical laboratory company Agilex for an enterprise value of $301.3 million. Whereas Sonic has announced the acquisition of US-based medically led anatomical pathology company, ProPath for an undisclosed fee. The deal will be funded from cash and available debt lines and be immediately earnings per share accretive.
BNPL shares sold off
It has been a very bad day for buy now pay later (BNPL) shares such as Afterpay Ltd (ASX: APT) and Zip Co Ltd (ASX: Z1P). This follows news that US authorities have launched an investigation into the BNPL sector. The US Consumer Financial Protection Bureau is looking to see if BNPL players need to be better regulated and if US consumers are adequately protected.
Best and worst ASX 200 performers
The best performer on the ASX 200 on Friday is the St Barbara Ltd (ASX: SBM) share price with a gain of 6%. This follows a rise in the gold price overnight. The worst performer has been the Afterpay share price with a 7% decline following news of the US investigation into the BNPL sector.
The post ASX 200 (ASX:XJO) midday update: BNPL shares sold off, Corporate Travel returns appeared first on The Motley Fool Australia.
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More reading
- Zip (ASX:Z1P) share price dives 8% amid US concerns and Sezzle merger rumbles
- Sonic Healthcare (ASX:SHL) share price struggles despite US acquisition
- ASX BNPL shares tumble today amid US probe
- Corporate Travel Management (ASX:CTD) share price drops after raising $75m
- Healius (ASX:HLS) share price falls despite $300m acquisition
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended AFTERPAY T FPO and ZIPCOLTD FPO. The Motley Fool Australia owns and has recommended AFTERPAY T FPO. The Motley Fool Australia has recommended Corporate Travel Management Limited and Sonic Healthcare Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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