The AMP Ltd (ASX: AMP) share price was in the green today amid news of a potential buyer for its capital arm.
The wealth management company’s shares finished the day at $1.02, a 1.49% gain.
Let’s take a look at what is happening at AMP.
Potential buyer for demerged brand
Singapore-based real estate company CapitaLand is looking at buying AMP’s Capital Private Markets business, The Australian reported.
CapitaLand is one of the biggest diversified real estate groups in Asia. The company’s influence spans more than 250 cities in over 30 countries. While its largest markets are in Singapore and China, it is also looking to expand to Australia, Europe, and the United States.
EIG is also reportedly looking into AMP’s capital spin-off with the help of JP Morgan. If EIG took over the management rights of the demerged business’s infrastructure funds, an Australian-listed real estate trust could look after the property funds.
As my Foolish colleague Bernd reported this week, AMP is planning to demerge AMP Capital Private Markets into a standalone business. In the company’s FY21 full-year results reported last week, AMP indicated the demerger is on track for completion within the first half of this year.
The new business will be known as Collimate Capital. The leadership team for this spin-off has already been established and it is due to list on the ASX in the second half of this year.
AMP reported an underlying net profit after tax (NPAT) of $356 million in FY21, a 53% boost on FY20. However, it also reported a statutory NPAT loss of $252 million.
AMP share price snapshot
The AMP share price has climbed about 1% year to date but has fallen more than 24% in the past 12 months.
For perspective, the S&P/ASX 200 Index (ASX: XJO) has returned around 5% over the last year.
AMP has a massive market capitalisation of around $67 billion based on today’s share price.
The post AMP (ASX:AMP) share price lifts as new suitor for capital arm emerges appeared first on The Motley Fool Australia.
Should you invest $1,000 in AMP share price right now?
Before you consider AMP share price, you’ll want to hear this.
Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and AMP share price wasn’t one of them.
The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.
*Returns as of January 13th 2022
More reading
- These 3 ASX 200 shares are topping the volume charts on Wednesday
- Here’s why AMP (ASX:AMP) shares are set for a transformation
- Top brokers name 3 ASX shares to sell next week
- Here are the 3 most heavily traded ASX 200 shares on Thursday
- Why AMP, AVZ, Megaport, and NAB shares are pushing higher
The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. 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 Bruce Jackson.
from The Motley Fool Australia https://ift.tt/IDtNXs9
Leave a Reply