The S&P/ASX 200 Index (ASX: XJO) has slipped today after a strong initial push into positive territory. At the time of writing, the ASX 200 is down 0.25% to 7,274.5 points.

Let’s take a look at some of the ASX 200 shares that are being the most heavily traded today:

3 ASX shares that are the ASX 200’s biggest movers today

Whitehaven Coal Ltd (ASX: WHC)

Coal miner Whitehaven is one of the most active ASX 200 shares on the markets today, with 14 million shares having traded hands so far at the time of writing. That can probably be explained by Whitehaven’s strong 5.72% jump today to $1.94 a share, which we looked at earlier. Whitehaven has also had a very strong month of performance, with the shares up close to 54% since early May. Investors can likely thank galloping coal prices for this situation.

Coda Minerals Ltd (ASX: COD)

Coda Minerals shares are also finding their way around the ASX boards today, with a hefty 23.5 million shares changing hands so far today. One look at the current Coda share price gives away the probable cause here. Coda shares are currently up a whopping 162% today to 93 cents a share. A promising ASX update this morning, which flagged a significant discovery at one of Coda’s copper mines, has seemingly gotten investors very excited over the company’s future.

Imugene Limited (ASX: IMU)

Imugene was the most traded ASX 200 share yesterday and has scored a double today, with the company topping ASX 200 trading with a substantial 52 million shares bouncing around the ASX boards. There have been no major news or announcements that might have sparked such a move. However, this company’s trading today has been volatile. Imugene shares were up close to 7% in early trading this morning, but have since given up those gains, and are now down 3.12% to 32 cents a share at the time of writing. With such volatility, it’s no real surprise to see such a large number of shares swapping hands today. Even so, Imugene shares are still up more than 19% over the past month, and 675% over the past year.

The post These 3 ASX 200 shares are the most actively traded today appeared first on The Motley Fool Australia.

More reading

• NAB (ASX:NAB) trying to combat crime loopholes with ‘Project Apollo’
• Here’s why the Whitehaven Coal (ASX:WHC) share price is on fire this week
• Why the Chalice Mining (ASX:CHN) share price is outperforming today
• Why ‘value’ and ‘growth’ share categories are meaningless
• 2 ASX 200 blue chip shares named as buys

Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. 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.

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ASX mining shares Sandfire Resources Ltd (ASX: SFR) and Perenti Global Ltd (ASX: PRN) are having an interesting day’s trade following a market update provided by both companies. The companies come into focus after agreeing to a $650 million partnership on an African copper mine. Sandfire Resources is a mineral exploration company, focused on copper, and Perenti Global provides a range of diversified services up and down the mining value chain.

In morning trade, both Perenti and Sandfire shares were in the green, up by as much as 7.4% and 4.2%, respectively. However, at the time of writing, both companies have retreated, with Perenti shares now trading 1.47% lower for the day at 67 cents.

The Sandfire share price is, at least, still in the green, trading 2.67% higher at $7.32.

Let’s take a closer look at today’s news.

What’s impacting these ASX mining shares?

In separate statements to the ASX, both companies confirmed Sandfire Resources will partner with Perenti and award it the $648 million, 7 years and 3-month contract for open pit mining services at Sandfire’s Motheo Copper Project in Botswana.

The award of the contract is subject to the granting of the mining licence to Sandfire and then execution of the contract. The mine will begin operations sometime in 2022.

Management commentary

Sandfire managing director and CEO Karl Simich said:

By partnering with a group with deep roots and strong community and stakeholder relationships in Africa, we have a unique opportunity to work together to create a lasting, positive legacy in Botswana and deliver significant sustainability and [environmental, social, and governance] outcomes.

Perenti managing director and CEO Mark Nowell added:

Partnering with Sandfire is a great opportunity and collectively we share a strong commitment to the creation of shareholder value while demonstrating the highest standards of safety, responsibility and sustainability. We look forward to demonstrating our capabilities as we deliver on our commitments at the Motheo Project.

Growing our footprint in Botswana is aligned with our 2025 strategy, to further expand into stable mining jurisdictions and pursue quality projects. The benefit of adding Motheo to the Perenti project portfolio is the opportunity to leverage our existing in-region operational presence at Zone 5 as well as partnering with Sandfire to develop Botswana’s next large-scale, highly productive, world-class copper mine.

Copper commodity price history

When the feasibility study for the Motheo project was completed, it assumed a standard price for copper of US$3.16 per pound. Currently, the reddish-gold metal is trading on the commodities market for US$4.55 per pound.

Despite the fact copper is much higher than originally forecast, the current price is down nearly 4% over the last month. According to the website Trading Economics, weak demand out of China is driving the price down. China is the largest importer of copper in the world.

Motley Fool has previously reported on copper’s price rise over the past 14 months, due in part to a growing global economy and increasing demand for green technologies, in which copper is a vital component.

Share price snapshots

Over the past 12 months, Perenti shares have decreased by around 57% while the Sandfire share price has gained around 46%. Perenti reached a 12-month low late last month while Sandfire shares hit a 52-week high earlier in the same month.

Perenti and Sandfire Resources have market capitalisations of around $472 million and $1.3 billion, respectively.

The post Sandfire (ASX:SFR) share price lifts following Perenti partnership appeared first on The Motley Fool Australia.

More reading

• Why ASX copper shares could have more market-beating gains ahead
• These 3 ASX 200 shares have dropped 50% or more in 2021 so far
• ASX copper shares have broadly outperformed the market…now what?
• Why did the Perenti (ASX:PRN) share price fall 38.5% in May?
• These were the worst performing ASX 200 shares in May

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.

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The National Australia Bank Ltd (ASX: NAB) share price was hit earlier in the week when AUSTRAC confirmed it’s investigating the bank for potential breaches of anti-money laundering legislation.

However, media reports today have revealed that NAB is attempting to combat compliance issues with its Project Apollo.

The NAB share price is currently trading 0.7% lower at $26.58. Three of the big four banks are moving lower today – Australia and New Zealand Banking Group Ltd (ASX: ANZ) is the exception.

What is Project Apollo?

As jointly reported by The Age and The Sydney Morning Herald, NAB’s Project Apollo is the bank’s response to its potential ongoing compliance issues.

NAB has brought global consulting firm Accenture onboard and beefed up the number of staff working on the project. This follows AUSTRAC commencing a formal investigation into potential breaches.

So, what is Project Apollo exactly? According to reports, the project is an attempt at spearheading problems in identifying high-risk customers banking through ASX-listed NAB.

Financial institutions must assume the responsibility through ‘know your customer’ obligations outlined in Australia’s laws to tackle money laundering and terrorism financing.

While the full details of the project are secretive, sources say Apollo involves examining hundreds of thousands of customer profiles. The objective of the extensive review process is to delete duplicate accounts and remove high-risk customers.

Unsatisfactory checks and balances

Comments made by former NAB staff to The Age raised issues with compliance in the past. The former employees claimed it would be common to find bank accounts with falsified identification documents.

“We would come across profiles set up by government ministers, they were rated low [risk], then you realise these guys are [politically exposed persons] and should be under far more monitoring than usual.”

The sources said Australia’s second biggest bank is working with technology more than 20 years old. Analysts are allegedly sorting through bank statements manually to determine suspicious activity, the claimed.

NAB has been facing anti-money laundering and counter-terrorism compliance issues since 2017.

The NAB share price still outperformed the ASX

Despite the controversy shrouding NAB, the ASX’s benchmark index hasn’t managed to keep up. Over the past 12 months, the NAB share price has rallied 30%. Meanwhile, the S&P/ASX 200 Index (ASX: XJO) delivered 18.5% during the same period.

The post NAB (ASX:NAB) trying to combat crime loopholes with ‘Project Apollo’ appeared first on The Motley Fool Australia.

More reading

• Why the Chalice Mining (ASX:CHN) share price is outperforming today
• Why ‘value’ and ‘growth’ share categories are meaningless
• 2 ASX 200 blue chip shares named as buys
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• 5 things to watch on the ASX 200 on Wednesday

Motley Fool contributor Mitchell Lawler has no position in any of the stocks mentioned. 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.

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The Qantas Airways Limited (ASX: QAN) share price continues to be volatile. But is it a buy right now? Some brokers have had their say on the airline.

Over just the last two months, Qantas shares dropped almost 20% to $4.40 and from that low on 13 May 2021 it has risen by 10% to the price of $4.82 at the time of writing.

What happened in the most recent update?

On 20 May 2021, Qantas gave a market update.

The airline said that a sustained domestic recovery is driving strong cash generation. Qantas said at the time it was expecting to be statutory free cash flow positive for the second half of FY21. Jetstar generated positive underlying earnings before interest and tax (EBIT) in April 2021.

Qantas is expecting to generate $400 million to $450 million of underlying earnings before interest, tax, depreciation and amortisation (EBITDA) in FY21. Qantas loyalty has returned to earnings growth in the second half of FY21.

Net debt peaked at $6.4 billion for the airline and is expected to be lower than December 2020 ($6.05 billion) by the end of the financial year.

The airline has also forecast a statutory loss before tax of more than $2 billion in FY21. This includes significant costs associated with redundancies, aircraft write downs and non-cash depreciation charges.

Qantas said that its recovery program is on track to deliver $600 million of ongoing cost reductions in FY21.

The company is seeing a domestic recovery which is driving the airline’s improved financials. Domestic flying is expected to almost double between the first and second half of this financial year.

Domestic corporate travel, including the small business segment, continues to recover and is now at 75% of pre-COVID levels. This was a month on month improvement from where it was at 65% of pre-COVID levels in April.

Qantas said that leisure demand is growing strongly, with deferred international holidays converting into multiple domestic trips.

The airline said it’s on track to reach 95% of its pre-COVID domestic capacity for the fourth quarter of FY21. Qantas and Jetstar expect to average 107% and 120% respectively of their pre-COVID domestic capacity in FY22.

Broker ratings on the Qantas share price

There isn’t a consensus view on the airline.

The broker Citi thinks that Qantas shares are a buy, with a price target of $5.89. That suggests a potential upside over the next 12 months of more than 20%. Citi likes the strong market share that the airline has.

However, Credit Suisse has a sell rating on Qantas with a price target of $4.15. Whilst it acknowledges the benefits of the reduction of costs for Qantas, it pointed to the increase competition from Regional Express Holdings Ltd (ASX: REX) and the older Qantas planes as reasons why it had a lower price target for the Qantas share price. COVID-19 problems could also be an issue.

The post Could the Qantas (ASX:QAN) share price be a buy right now? appeared first on The Motley Fool Australia.

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• Fund managers are buying Qantas (ASX:QAN) and this ASX share
• 5 things to watch on the ASX 200 on Thursday

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. 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.

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The Probiotec Limited (ASX: PBP) share price is on the move during late afternoon trade. This comes after the pharmaceutical products company provided investors with a trading update and earnings guidance for FY21.

At the time of writing, Probiotec shares are up 7.18% to $2.09.

How is Probiotec performing in FY21? 

Investors are snapping up Probiotec shares following the company’s trading update and strong earnings outlook.

According to its release, Probiotec announced it is continuing to deliver on its strategy, increasing value for shareholders. Both existing and new customers have inquired about the company’s onshore manufacturing capability.

The company stated that its pharmaceutical product categories affected by COVID-19 are beginning to recover. It is anticipated that this will progressively improve throughout the first-half of FY22, with normal levels returning in H2 FY22.

Although, the current lockdown in Victoria is expected to have a slight impact on the overall group’s earnings for FY21.

Pleasingly, Probiotec’s recent acquisition of Multipack-LJM in January this year has performed in line with expectations for the 6 months. The business’ earnings are weighted more towards the second-half end of the year (July to December). With that in mind, the company is focused on using Multipack-LJM’s toolkit to attract more customers and drive revenue growth.

Looking ahead, Probiotec is forecasting revenue to be in the range of $118 million to $122 million. This is a minimum increase of 10% on FY20’s result of $107 million.

Underlying earnings before interest, tax, depreciation and amortisation (EBITDA) is projected to come between $21 million and $22 million. When compared against the prior corresponding period ($16.9 million in FY20), this is around a 25% jump.

Underlying earnings per share (EPS) is predicted to drop from FY20’s result (11.1 cents per share). This metric is assumed to fall somewhere between 10 cents and 11 cents per share.

Probiotec share price snapshot

In November, Probiotec shares raced higher following notice of its planned acquisition of contract packing specialist, Multipack-LJM. The company’s share price reached an all-time high of $2.50 when the takeover was completed in January.

Since then, Probiotec shares have been on a downhill trend, posting a loss of 12% on year-to-date share price performance.

Based on today’s price, Probiotec has a market capitalisation of roughly $163 million, with 78 million shares on its registry.

The post Why the Probiotec (ASX:PBP) share price is surging 7% today appeared first on The Motley Fool Australia.

More reading

• Why GrainCorp (ASX:GNC) has surged 19% in the last 3 months
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• 3 growing ASX tech shares for growth investors

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Probiotec Limited. 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.

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GrainCorp Limited (ASX: GNC) is one ASX-listed agriculture share that has been in the firing line of China’s 80% import tariff on Australian barley.

As Motley Fool has previously reported, the tariffs were imposed after China claimed that Australia used the illegal practice of dumping. A claim vigorously denied by Australia.

Despite the loss of a major part of its market, the GrainCorp share price has enjoyed a bit of a renaissance of late, rising 19% in the last 3 months. We explore the possible reasons. 

GrainCorp succeeds in finding markets outside China 

In May, GrainCorp reported revenue of $2,63.5 million for the  half-year ending 31 March, delivering a 30.8% increase on the prior corresponding period. Underlying earnings before interest, tax, depreciation and amortisation (EBITDA) from continuing operations grew to $140 million. 

For several years, GrainCorp has made it a priority to focus on other markets, not just as a response to the barley tariffs but because it equated to good business.

In an interview with the Australian Financial Review, GrainCorp managing director Robert Spurway said: 

What we have seen is that Australian grain remains competitively priced in most destination markets and that has created opportunities and, as a result of the tariffs, as you always do with tariffs when they are applied, a bit of disruption and dislocation to global trade but the underlying demand remains there.

Crop forecast to hit peak in June

A report out of Bell and Porter last month pointed to the June Australian Bureau of Agricultural and Resource Economics crop report. It highlighted an east coast winter crop forecast of 22.1 megatonnes (mt), the highest June forecast ever and above last year’s previous high of 21.5mt. 

Further, Bell and Porter added that the “current soil moisture profiles, the three-month rainfall outlook and grain futures pricing, all look supportive of another above-average crop size and trading margin outcome for GNC”. 

Despite the positive forecast, Bell and Porter downgraded the GrainCorp share price from buy to hold, Analysts cited the main reason for the downgrade being the high likelihood that a seasonal peak in earnings was close to being reached.

Meanwhile, GrainCorp’s earnings guidance upgrade reflected strong margins due to high global demand for Australian grain and oilseeds. The turnaround demonstrates that exporters can succeed in finding markets outside China.

The GrainCorp share price is trading at $5.19 up 0.48%, at the time of writing.

The post Why GrainCorp (ASX:GNC) has surged 19% in the last 3 months appeared first on The Motley Fool Australia.

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• How might Australia’s WTO battle with China affect this ASX share?
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• Why the GrainCorp (ASX:GNC) share price will be on watch today

Motley Fool contributor Frank Tzimas 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.

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The United States government is reportedly on track to pass a massive suite of legislation aiming to crack down on China and to promote US technological dominance in the 21^st century.

US politics has long been characterised by bitter partisanship. It’s very rare these days to see a law passed that has the support of both President Joe Biden’s Democratic Party and former President Donald Trump’s Republican Party. This was epitomised by the passage of the massive US$1.9 trillion COVID relief package back in March. This package, which included direct stimulus cheques, managed to pass through Congress despite zero Republican support.

US-China competition heating up

But today, it looks as though American politicians have put down their partisan tendencies. Even if temporarily. According to a report in The Sydney Morning Herald (SMH) today, the US Senate has just passed a substantial US$250 billion suite of legislation targeting China. It aims to propel American economic and technological dominance in the face of strong Chinese competition. This bill is titled the US Innovation and Competition Act.

The Democratic Senate Majority Leader, Chuck Schumer, said this on the floor of the US Senate on the bill:

The bill will go down as one of the most important things this chamber has done in a very long time, a statement of faith in America’s ability to seize the opportunities of the 21st century… Whoever wins the race to the technologies of the future is going to be the global economic leader. With profound consequences for foreign policy and national security as well.

Importantly, the bill passed the Senate with bipartisan support in a 68-32 vote. It now heads to the House of Representatives for final approval. This is expected to be granted with minimal modification. The bill earmarks US$50 billion over 5 years to support domestic manufacturing of semiconductor chips. This is an industry that America views as critical to 21st-century dominance.

Another US$81.5 billion will be allocated to research and development. This will target the fields of artificial intelligence, robotics, biotechnology as well as 5G and 6G wireless technology. Additionally, it also reportedly instructs the US Secretary of State to list Chinese state-owned companies that have engaged in intellectual property theft and forced technology transfers.

What does this mean for ASX shares?

Australia and China have been locked in a deteriorating diplomatic relationship over the past year. This has resulted in a number of economic consequences for Australian business. These include import restrictions on many Australian goods entering China. This has curtailed export access for many ASX companies. Some of the ASX shares that have felt the pain of these restrictions include Bubs Australia Ltd (ASX: BUB), Blackmores Limited (ASX: BKL) and Treasury Wine Estates Ltd (ASX: TWE).

Since Australia is a close ally of the United States, it’s possible that these companies may not be too happy with this news today. It’s unlikely to lessen international tensions, to say the least. We’ll have to wait and see if this bill, upon its likely passage, results in any changes to economic relations between the US, China and Australia over the next year and beyond. But it certainly gives us an insight into where things may be going.

The post US on brink of passing massive anti-China law appeared first on The Motley Fool Australia.

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• 3 reasons why Rural Funds (ASX:RFF) could be a really good ASX dividend share
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• A2 Milk (ASX:A2M) share price lifts on China child policy change
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Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Blackmores Limited and Treasury Wine Estates Limited. The Motley Fool Australia has recommended A2 Milk. 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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You wouldn’t know it by looking at the Bitcoin (CRYPTO: BTC) price charts from the past month. A month that has seen the world’s largest digital token by market cap plunge 44% in value.

But dig back a little further and you’ll gather just how potentially profitable Bitcoin was for crypto investors in 2020.

Profitable enough, in fact, to see Aussies book US$200 million (AU$260 million) in profits in the calendar year.

That’s according to data from United States-based research firm Chainalysis, which provided estimates of realised Bitcoin gains in 2020 for nations across the globe.

United States tops the list

Australians’ US$200 million in Bitcoin profits last year put the country at number 19 in realised gains.

Coming in at number 1, with US$4.1 billion in Bitcoin profits, is the US.

According to Chainalysis:

“[I]nvestors in nearly all countries saw the biggest increases toward the end of the year. That’s when US investors really broke away from the pack with most of their gains coming from activity on Coinbase.”

The last 3 months of 2020 really saw the Bitcoin price go hyperbolic, rocketing from US$10,740 on 1 October to US$28,769 by 31 December.

Rounding out the top 5 gainers, China came in at number 2 with US$1.1 billion; Japan came in at number 3 with US$900 million; the United Kingdom was number 4 at US$800 million; and Russia ranked 5th at US$600 million. (Russia was virtually neck and neck with Germany and France, who ranked 6th and 7th respectively.)

Chainalysis also noted some interesting discrepancies between a number of nations’ economic clout and the amount their citizens invested in Bitcoin.

The Czech Republic, for example, ranks 54th in terms of its gross domestic product (GDP). But the country is 17th in realised Bitcoin investment gains at US$281 million. That’s 2 rungs up the ladder from Australia.

On the flip side, and only 1 rung up the ladder from Australia, is India. While India is the world’s 2nd most populous nation and has the 5th highest GDP, it comes in 18th in Bitcoin investment gains at US$241 million.

“This may be a result of the Indian government’s historical unfriendliness to cryptocurrency,” Chainalysis says.

Bitcoin price movement since January 2020

As mentioned up top, the past month has been largely downhill for the Bitcoin price.

On 9 May, it was trading for US$58,788 (AU$76,348). Less than a month earlier it had reached all-time highs of US$64,829 in mid-April, according to data from CoinDesk.

One Bitcoin is currently worth US$33,037. While that’s well down from its April highs, it’s still up 12% so far in 2021.

What will the rest of the year deliver for the Bitcoin price?

Ask me around Christmas time!

The post How Aussies raked in $260 million in Bitcoin profits in 2020 appeared first on The Motley Fool Australia.

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The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Bitcoin. Bernd Struben 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.

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Shares in Superloop Ltd (ASX: SLC) are up and down today after the company announced it has completed the first step of its entitlement offer.

While the Superloop share price spent most of the morning in the green, peaking 3.8% higher at $1.08, it dipped to $1.02 before midday then regained some ground in early afternoon trade. At the time of writing, the Superloop share price is $1.05 – 0.96% up from yesterday’s closing price.

The institutional entitlement offer announced yesterday is the first step of the telecommunications and infrastructure company’s $100 million capital raise.

Let’s take a closer look at today’s news from Superloop.

Successful start to the capital raise

Superloop’s institutional entitlement offer, open to sophisticated and institutional investors, has seen it raise $79 million.  

The institutional entitlement offer involved 85 million Superloop shares sold for 93 cents apiece. That represents a 10.6% discount on the Superloop share price as of 4 June’s close.

Both new and existing investors from Australia and overseas supported Superloop’s institutional entitlement offer.

A retail entitlement offer – expected to raise around $21 million ­– will open next week.

The retail entitlement offer will see eligible Superloop shareholders able to purchase one new Superloop share for every 6.67 shares they hold as of 7pm tomorrow. Each share will cost existing investors 93 cents.

New acquisition

Superloop will use the cash raised to buy Australia’s largest independent internet service provider, Exetel.

On top of the $100 million in cash, Superloop will pay $10 million worth of Superloop shares to purchase Exetel.

The acquisition will boost Superloop’s customer base by 110,000 – leaving it with 155,000 customers.

Additionally, it will see the companies save a combined $5 million annually.

Once the companies are combined, Superloop’s 2021 financial year earnings before interest, tax, depreciation, and amortisation (EBITDA) are expected to be 89% higher than last financial year.

Superloop share price snapshot

Superloop investors need all the good news they can get. Currently, the Superloop share price is down 0.94% from the start of the year, and 3.67% from this time last year.

The telecommunications company has a market capitalisation of around $384 million, with approximately 365 million shares outstanding.

The post The Superloop (ASX:SLC) share price seesaws on successful capital raise appeared first on The Motley Fool Australia.

More reading

• ASX 200 rises, EML up, Ansell announces CEO
• Superloop (ASX:SLC) shares remain halted amid cap raise and acquisition
• Superloop (ASX:SLC) share price frozen ahead of acquisition news

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. 

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended SUPERLOOP 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 Bruce Jackson.

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If you’re wanting to add some exposure to the tech sector then you might want to take a look at the shares listed below.

They have been growing at a strong rate in recent years and could have very bright futures ahead of them. Here’s what you need to know about these three ASX tech shares:

Afterpay Ltd (ASX: APT)

The first ASX tech to look at is Afterpay. It is of course the buy now pay later (BNPL) focused payments company which helped popularise the payment method, becoming a verb in the process.

Afterpay has been growing at a rapid rate in recent years thanks to the increasing popularity of BNPL with consumers and merchants and its global expansion. In respect to the latter, Afterpay has recently launched in Canada and mainland Europe, and is now looking closely at the Asia market. Combined with its $5 trillion opportunity in the United States, it has a huge runway for growth over the 2020s.

Altium Limited (ASX: ALU)

Another option in the tech sector to look at is Altium. It is an electronic design software provider best-known for its Altium Designer and Altium 365 platforms. These platforms are dominating the electronic design market and look set to drive strong growth for Altium over the next decade.

This is especially the case given the increasing demand for this kind of software because of the growing Internet of Things and artificial intelligence markets. These are underpinning an explosion in electronic devices of all shapes and sizes.

Pushpay Holdings Group Ltd (ASX: PPH)

A final ASX tech share to look at is Pushpay. It is a donor management and community engagement platform provider for the faith sector.

Thanks to the shift to a cashless society and the digitisation of the church, Pushpay’s industry-leading platform continues to grow in popularity. This has led to it delivering stellar sales growth over the last few years. And thanks to operating leverage, its earnings have been growing at an even quicker rate.

The post 3 growing ASX tech shares for growth investors appeared first on The Motley Fool Australia.

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James Mickleboro does not own any shares mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended AFTERPAY T FPO, Altium, and PUSHPAY FPO NZX. The Motley Fool Australia owns shares of and has recommended AFTERPAY T FPO, Altium, and PUSHPAY FPO NZX. 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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