While the market as a whole has been in fine form in 2021, one area of the market performing particularly strongly has been the retail sector.

For example, since the start of the year, the S&P/ASX 200 Consumer Discretionary Sector (ASX: XDJ) has climbed an impressive 11.1%. This compares to a solid 5.9% gain by the S&P/ASX 200 Index (ASX: XJO).

In light of this, it will come as no surprise to learn that a number of retail shares have been pushing notably higher this year. Some have even managed to climb to 52-week highs or better today.

Here’s why these ASX retail shares are scaling new heights:

Adairs Ltd (ASX: ADH)

The Adairs share price climbed to a record high of $4.60 today. Investors have been fighting to get hold of this homewares retailer’s shares in 2021 thanks to a very strong performance in the first half. For the six months ended 31 December, Adairs reported a 34.8% increase in group sales to $243 million. This was driven by a 20.9% increase in Adairs sales, a 44.4% jump in Mocka sales, and strong online sales growth. And thanks to a significant expansion in its gross margin, Adairs reported a 166% increase in underlying earnings before interest and tax (EBIT) to $60.2 million. This excludes JobKeeper payments, which were returned to the government. Interestingly, just this morning Wilsons tipped the Adairs share price to continue its ascent. It has retained its buy rating and lifted its price target by 29% to $5.80.

Baby Bunting Group Ltd (ASX: BBN)

The Baby Bunting share price reached an all-time high of $6.34 today. The catalyst for its strong share price performance was an impressive performance during the first half and its expansion plans. In respect to the former, the baby products retailer delivered a 16.6% increase in total sales to $217.3 million. This was driven by a 15% increase in comparable store sales and a 95.9% increase in online sales. Pleasingly, due to a 41-basis points expansion in its gross margin, the company recorded a 43.5% increase in pro forma net profit after tax to $10.8 million. As for its expansion plans, after a successful online launch in New Zealand, Baby Bunting now plans to open its first physical store in the country in FY 2022.

Reece Ltd (ASX: REH)

The Reece share price climbed to a record high of $20.34 on Monday. Investors have been buying the bathroom, kitchen, plumbing and HVAC-R supplies company’s shares this year due partly to a solid half year result in February. For the six months ended 31 December, Reece reported a 4% increase in sales revenue to $3,074 million and a 12% increase in normalised earnings before interest, tax, depreciation and amortisation (EBITDA) to $349 million. Positively, with the housing market booming, demand for its offering looks likely to strengthen in the second half.

More reading

• 2 quality ASX shares rated as top buys by brokers
• Bullish ASX 200 shares breaking into 52-week highs 
• Will the Kogan (ASX:KGN) share price making a comeback in April?
• These ASX retail shares continue to surge higher
• 2 ASX dividend shares with very BIG yields

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. recommends ADAIRS FPO. The Motley Fool Australia has recommended ADAIRS FPO and Baby Bunting. 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 ClearVue Technologies Ltd (ASX: CPV) share price just hit an all-time high. Shares hit a high of 84 cents intraday trading today. By the time of writing, however, the share price had fallen slightly to 83 cents. This is still 18.57% higher than the previous close.

Today’s massive price gain comes as the company announced its “world first solar greenhouse” had officially opened.

Compared to the ClearVue share price, the S&P/ASX All Ordinaries Index (ASX: XAO) is only 0.23% higher.

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

What’s affecting the ClearVue share price?

In a statement to the ASX, ClearVue declared the opening of its solar powered greenhouse in Perth, Western Australia.

The greenhouse, which is located within the campus of Murdoch University, was built using ClearVue Technologies “smart building materials.” The facility will be used for developing new plant breeding technologies and integrating them to produce commercial crop varieties.

The company will conduct its own research on the building’s energy generation and energy efficiency performances. Investors appear to be buying into the research, with today’s strong performance of the ClearVue share price.

According to the statement, the new greenhouse uses a range of sensors that record and present data in real-time. This provides scientists with accurate information about temperature, humidity and the actual amount of light that plants are receiving. This information is then analysed to make real-time adjustments to settings inside the greenhouse, like temperature and lighting.

Management commentary

ClearVue Executive Chair, Victor Rosenberg, said

ClearVue is truly excited to finally be able to show to the World ClearVue’s truly world leading product being used in this agricultural application – just one of the wide range of applications the ClearVue technology and products can be used for.

Estimates indicate the world’s arable land has reduced by one third in the past 40 years. By 2050, two thirds of the world’s population is predicted to be urbanised, which will further impact the availability of land for agricultural production.

We are confident that the ability to control the microclimate within the ClearVue greenhouse will create an optimum growing environment to achieve higher yields. Leafy plants require protection from harmful UV rays in the same way humans need to protect their skin. Plants do this naturally by producing a waxy substance that shields them from harmful UV rays.

The ClearVue IGU glazing blocks these UV rays, so the energy required by plants to create the protective layer on leafy vegetables can be preserved to growing bigger, tastier, fresher produce which leads to improved yields and quality of produce.

ClearVue share price snapshot

Over the past 12 months, the ClearVue share price has increased an amazing 676.2%. Just in the last month, the company’s value has increased 93%!

Given its current valuation, ClearVue has a market capitalisation of $122.9 million.

More reading

• The ClearVue (ASX:CPV) share price is up 65% in a month. Here’s why

Motley Fool contributor Marc Sidarous 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 Yojee Ltd (ASX: YOJ) share price is rising today after the company released its quarterly activity report.

The Yojee share price is up 6.67% at the time of writing, trading at 16 cents per share.

Yojee delivers logistics and supply-chain management capabilities via its blockchain and artificial intelligence (AI) software to Southeast Asia and Australia.

The company is a cloud-based Software-as-a-Service (SaaS) logistics platform that manages, tracks and optimises freight movements throughout the logistics chain, from sender to end customer. It crosses borders and between logistics providers (land, sea, air), with subcontractors for multi-leg journeys.

In essence, it’s a software company that brings the management of trucking fleets into the digital age.

Inside Yojee’s quarterly report

Yojee’s March-quarter FY2021 activity report is focused on the company’s record growth and the expansion of its regional network. 

The company has achieved record growth in revenues from ordinary activities of 36% and cash receipts of 42% for the March-ended third quarter of FY2021.

The company’s recent expansion of its global logistics pipeline is beginning to bring in revenue. Yojee noted that its six Enterprise Client Logistics Hubs (with global top 10 freight forwarders) across five different countries are now generating revenue.

Two further hubs are currently undergoing platform implementation across two countries. 

87 trucking companies across the Asia Pacific region have adopted Yojee’s software during the quarter, which the company says creates “huge potential for further buildout”. 

Yojee reports a strong cash runway with AU$19.8 million in its bank at 31 March 2021. It’s currently in discussions with existing and new enterprise clients for Yojee to expand its presence across the supply chain in the Asia Pacific region and beyond.

It says that significant progress has been made laying the foundations for its future growth, and it expects another record quarter looking forward.

Yojee share price snapshot

Yojee’s strong revenue increases quarter-on-quarter in FY21, combined with its bullish expectations for future growth, have been pushing its share price higher in the past week. Broker recommendations have also assisted these gains.

The Yojee share price is up 6.9% this month but is down 22% in 2021 so far. Overall, it’s up 355% over the past 12 months.

More reading

• Why Eagers Auto, Orocobre, Sims, & Titomic shares are storming higher
• Smartpay (ASX:SMP) share price lifts on fourth quarter trading update
• Why the GPT (ASX:GPT) share price is sliding today
• Tesla settles lawsuit with ex-employee over autopilot source code
• ‘Stable’ Santos (ASX:STO) share price falls after first-time Fitch rating

Motley Fool contributor Lucas Radbourne-Pugh 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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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to start the week with a gain. At the time of writing, the benchmark index is up 0.2% to 7,078.3 points.

Four ASX shares that are climbing more than most today are listed below. Here’s why they are storming higher:

Eagers Automotive Ltd (ASX: APE)

The Eagers Automotive share price has climbed 4% to $16.21. Investors have been buying the auto retailer’s shares after Morgan Stanley responded positively to its recent trading update. The broker notes that Eagers Automotive is trading well-ahead of expectations so far in FY 2021. In addition, the broker believes it is well-placed to be a much more profitable company in the future. Morgan Stanley has retained its overweight rating and lifted its price target to $18.00.

Orocobre Limited (ASX: ORE)

The Orocobre share price has jumped 5% to $6.50. Investors have been scrambling to buy its shares after it announced a merger with fellow lithium producer Galaxy Resources Limited (ASX: GXY). The company notes that the merger will create the fifth largest global lithium chemicals company with a diversified production base and exciting growth platform. The Galaxy share price is rising on the news as well.

Sims Ltd (ASX: SGM)

The Sims share price has surged 10% higher to $16.78. The scrap metal company’s shares were given a boost today from the release of a trading update. According to the release, Sims is expecting to achieve underlying earnings before interest and tax (EBIT) of around $260 million to $310 million in FY 2021. This compares to an underlying loss before interest and tax of $57.9 million in FY 2020 and underlying EBIT of $230.3 million in FY 2019.

Titomic Ltd (ASX: TTT)

The Titomic share price has risen almost 6% to 55.5 cents. This morning the digital manufacturing solutions provider announced an agreement to acquire the assets of US-based Tri-D Dynamics. It is a Silicon Valley-based design and manufacturing company developing smart pipe infrastructure for the 21st-century economy. Tri-D Dynamics aims to upgrade and electrify infrastructure by embedding electronics directly into metal structures to outfit them with digitally connected technology.

More reading

• Galaxy Resources (ASX:GXY) share price jumps on merger news
• Why the Sims (ASX:SGM) share price is on watch today
• Galaxy (ASX:GXY) and Orocobre (ASX:ORE) announce mega lithium merger
• The Eagers (ASX:APE) share price is near all-time highs
• Why Eagers Auto, Mayne Pharma, Monadelphous, & Newcrest are pushing higher

Motley Fool contributor James Mickleboro owns shares of Galaxy Resources 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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The Smartpay Holdings Ltd (ASX: SMP) share price has jumped in afternoon trade after the payment technology company released its trading update for the fourth quarter.

At the time of writing, the Smartpay share price is trading at 92.5 cents a share, an increase of 4.5%.

High growth story continues

It appears the payment solution providers’ trading update has fallen roughly in line with shareholder expectations. Despite the continuation of growth metrics, the Smartpay share price has failed to gain momentum.

The company’s fourth quarter, ending 31 March, experienced continued growth in Australian acquiring revenues. Smartpay delivered a 97% year-on-year revenue increase to $5.784 million – a further 15% increase on the previous quarter.

Additionally, Smartpay’s transacting terminals reached record levels. At the end of March, the company’s payment terminals in use reached 6,754 – up from 5,775 from the previous quarter.

Total quarterly revenue for the company came in at NZ$10.05 million on a consolidated basis for both Australia and New Zealand operations. This reflects an increase of 36% year-on-year for the business.

Potentially disappointing shareholders, the company did not indicate growth in its New Zealand operations. Instead, Smartpay stated, “Our New Zealand business provided stable and consistent revenue contribution through the quarter.”

Context is important for Smartpay share price

Smartpay is a much smaller peer of ASX-listed Tyro Payments Ltd (ASX: TYR). Comparing the two competitors we can see how Smartpay is stacking up.

Based on current metrics, Tyro is generating roughly 7.1 times more revenue than its smaller contender. However, the company is utilising 10.1 times more transacting terminals than Smartpay to do so, at 68,338.

Adding to this, despite only accruing sevenfold the revenue, Tyro is valued at 9.7 times the market capitalisation of Smartpay. This might explain why the returns from the Smartpay share price have outpaced its bigger competitor over the last year (108% versus 38.6%).

The market might be imposing a discount on the smaller terminal provider, given the heightened risk profile. This risk was displayed during the COVID-19 crash, as the Smartpay share price fell dramatically 64% in one month.

More reading

• Top broker picks ASX shares next in line for a profit upgrade
• Why the Smartpay (ASX:SMP) share price is up 30% in 2021
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• 3 ASX shares brokers have rated a buy today
• 4 reasons why the Tyro (ASX:TYR) share price is rated as a buy

Mitchell Lawler has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Tyro Payments. 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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This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

Tesla Motors (NASDAQ: TSLA) is moving past a legal dispute it got into with one of its former engineers. The company settled a lawsuit it brought in 2019 against Cao Guangzhi, accusing him of copying the source code of its Autopilot assisted driving software platform. Tesla had alleged Cao had done so before joining XMotors, the U.S. business of China-based autonomous-driving company Xpeng (NYSE: XPEV).

Under the terms of the settlement, Cao will financially compensate Tesla for his actions. The precise amount has not been disclosed.

Autopilot is a high-profile feature in Tesla automobiles. Although the name implies an autonomous driving system, Autopilot is actually a set of assisted-driving solutions including next-generation cruise control and parking assist. The company has intimated that, in time, Autopilot will include self-driving functionalities.

Tesla has not commented on its settlement with Cao. The former employee’s legal representative, in a statement sent to Reuters, claimed that Cao did not provide any Tesla data to Xpeng or any other entity. In addition, said the representative, Cao didn’t personally access any of Tesla’s information.

The news agency added that XMotors “said it respected intellectual property rights and relied on its in-house developed proprietary R&D and intellectual property.” XMotors was not a party in the lawsuit brought by Tesla. Cao is no longer employed at the Chinese company.

Although this can’t be considered a major legal issue — and therefore a big victory — for Tesla, it is an encouraging sign that the company is ready and able to vigorously defend its business. Autopilot is an attractive feature that helps draw customers, and as such it’s worth protecting.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

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Eric Volkman has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Tesla. 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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This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

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The GPT Group (ASX: GPT) share price is slipping into negative territory today after the company announced an update on its earnings and distribution guidance for FY21.

At the time of writing, GPT shares are backtracking 1.3% to $4.75.

Founded in 1971, GPT is a property investment company. The group owns and manages a diversified portfolio of Australian retail, office and logistics property assets.

GPT also manages three funds, the GPT Wholesale Office Fund (GWOF), the GPT Wholesale Shopping Centre Fund (GWSCF) and the GPT Metro Office Fund (GMF).

What did GPT announce?

In today’s release, GPT advised that it expects to deliver an increase in both funds from operations (FFO) and distribution per security (DPS) metrics for FY21. It stated that FFO per security is set to grow 8%, with DPS soaring 12% when compared to FY20.

The guidance statement from the company’s assessment that the current economic climate continues to recover. GPT noted that any significant disruptions from COVID-19 could derail its projections for the remainder of the year.

What did the CEO say?

GPT CEO Bob Johnston touched on the company’s recovery and outlook, saying:

It is pleasing to see Australia’s economy continuing to benefit from the post COVID-19 recovery and the disruption to our operations is abating. While risks remain, including the speed of recovery of our Melbourne Central Shopping Centre and further COVID-19 related disruptions, trading conditions over the first quarter have provided us with sufficient confidence to announce earnings and distribution guidance for the 2021 full year.

The group’s high-quality portfolio has proved resilient throughout the pandemic. Consumer confidence continues to be strong driving foot traffic at our shopping centres, office utilisation is steadily increasing and demand for logistics assets remains strong reflecting the increased economic activity.

GPT share price snapshot

Over the past 12 months, the GPT share price has gained around 15%, with year-to-date sitting up roughly 5%. The company’s shares reached a 52-week high of $4.94 in mid-November 2020, before treading lower and again moving higher.

Based on valuation grounds, GPT commands a market capitalisation of about $9.2 billion, with almost 2 billion shares outstanding.

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Motley Fool contributor Aaron Teboneras 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 Santos Ltd (ASX: STO) share price is falling today after global ratings agency Fitch issued it with a first-time rating.

The Santos share price is down 1.19% at the time of writing, trading at $7.07 per share.

Santos is one of the leading independent oil and gas producers in the Asia-Pacific region, providing energy to homes, businesses and major industries across Australia and Asia.

Fitch Ratings is a leading provider of credit ratings, commentary and research for global capital markets.

What is the Santos Fitch rating?

Fitch Ratings has assigned Santos Limited a first-time rating of ‘BBB’ with a Stable Outlook. The agency has also assigned Santos a senior unsecured rating of ‘BBB’. 

Fitch’s report said fixed-price gas contracts were of immense benefit to Santos’ low credit risk.

Santos’ rating is supported by its position as the second-largest oil and gas producer in Australia, with a large share of domestic gas sales, which are typically on long-term fixed-price contracts that provide it with greater revenue stability than similarly rated peers.

This provides Santos with greater diversification from oil-linked revenue than its peers, providing some earnings stability. This was evident in 2020 when Santos’ average realised domestic gas price fell only 9.8% compared with a reduction of over 33% in its average realised oil and LNG prices.

Fitch considers an upgrade unlikely over the medium term due to the growth projects in the pipeline.

What does Santos’ Fitch rating mean?

Fitch’s credit ratings relating to issuers are an opinion on the relative ability of an entity to meet financial commitments, such as interest, preferred dividends, repayment of principal, insurance claims or counterparty obligations

Fitch’s credit ratings do not directly address any risk other than credit risk

Fitch can issue 11 ratings, spanning from AAA (the lowest expectation of risk) all the way down to RD and D, which signify a restricted default and default rating (bankruptcy) respectively.

Santos’ BBB rating means that the company has a good credit quality. BBB ratings indicate that expectations of default risk are currently low.

Fitch considers Santos’ capacity to pay its financial commitments is adequate, but adverse business or economic conditions are more likely to impair this capacity than they would an A-rated business.

Santos share price snapshot

The Santos share price is up marginally the past week against broader 3% losses over the past month. It’s gained 65% over the past 12 months, beating the energy sector by 44%.

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Motley Fool contributor Lucas Radbourne-Pugh 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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Spacetalk Ltd (ASX: SPA) shares are gaining today after an announcement from the company regarding a new sales channel for its LIFE smartwatch. At the time of writing, the Spacetalk share price is trading 6.45% higher to 16.5 cents.

Let’s look closer at today’s announcement from the communications technology company.

What’s driving the Spacetalk share price?

The Spacetalk share price is climbing today after the company advised its new B2B2C (business to business to consumer) channel will begin operating on 1 June 2021, coinciding with the launch of the LIFE watch’s fall detection feature.

The new B2B2C channel will see the watch retailing through ACH Group. ACH Group is a leading aged care organisation with accommodation options in Adelaide, Melbourne and the Fleurieu Peninsula in South Australia. It supports more than 20,000 older Australians to live well at home and in residential care and independent living units.

The watch’s fall detection feature, developed in collaboration with ACH Group, is in the final stages of completion. It will use artificial intelligence to continually improve its accuracy rate, improving as more people use the devices. The new feature will be automatically enabled on all LIFE devices through a free upgrade.

LIFE’s price point has also been adjusted. The device will now retail for $399, while access to the paired Spacetalk app will cost users $7.99 per month.

Due to the new price point, eligible customers may now purchase LIFE with funding from Commonwealth Home Support, Home Care, or the National Disability Insurance Scheme.

More about LIFE

Not including the up-and-coming fall detection feature, LIFE includes SOS alerts, a GPS locator, a 4G phone, and reminders that can be used for medications and appointments.

It can also give emergency responders access to a wearer’s medical history and information.

Currently, LIFE is available at JB Hi-Fi Limited (ASX: JBH) stores and will soon be launched in Harvey Norman Holdings Ltd (ASX: HVN) stores.

Commentary from management

Spacetalk’s CEO Mark Fortunatow said receiving ACH Group’s feedback on and support of LIFE was extremely valuable, saying:

We listened, and set about incorporating ACH Group’s suggestions, which included fall detection technology and re-positioning pricing to meet the eligibility requirements for Australians to access Government funding through the Commonwealth Home Support, Home Care and NDIS programs. Our commercial arrangement with ACH Group to sell the device and the accompanying Spacetalk App opens an exciting new B2B2C distribution channel for LIFE and broadens its market reach.

ACH Group’s CEO Frank Weits also commented on LIFE and its B2B2C channel. He said:

ACH Group recognised that LIFE could fill a gap in the market. Together with its newly incorporated suggested improvements we believe this high quality, stylish smartphone watch will offer peace of mind to older people…

Spacetalk LIFE is a fantastic example of two industry leaders collaborating to bring new, leading-edge and world-class aged care technology to market. LIFE can increase an older person’s confidence and their safety, whilst supporting independence, health living, and social connections.

Spacetalk share price snapshot

The latest news on the company’s LIFE watch has given the Spacetalk share price yet another boost. 

Currently, Spacetalk shares are up 50% year to date. They are also up by 83% over the last 12 months.

Spacetalk has a market capitalisation of around $25 million, with approximately 165 million shares outstanding.

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Motley Fool contributor Brooke Cooper 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 Vimy Resources Ltd (ASX: VMY) share price is plummeting in early afternoon trade. This comes after the company announced it has completed an equity raising, and opened a Share Purchase Plan (SSP) offer.

At the time of writing, the uranium producer’s shares are swapping hands for 11.5 cents, down 14.8%.

Placement complete

Investors are heading for the hills, dumping Vimy shares as impending share dilution appears on the horizon.

According to its release, Vimy advised it has received firm commitments to raise $18.5 million from institutional and sophisticated investors. The strong support saw a number of new domestic and international customers to be added to the company’s registry.

The well-supported placement will see Vimy create 168.2 million new ordinary shares at an issue price of 11 cents apiece. This represents a 21.9% discount to the 5-day volume weighted average price (VWAP) of 14.1 cents on 14 April 2021. It’s worth noting that the offer price is a slight markdown on today’s current share price drop to 11.5 cents.

The new ordinary shares to be issued represent 21.6% of the existing shares on issue. Under listing rule 7.1, Vimy will allocate 92 million shares to investors. In addition, the company will also use an extension – listing rule 7.1A to issue the remaining 76.2 million shares.

The proceeds will be used to deliver a number of strategic objectives at the Mulga Rock and Alligator River Projects. This includes infrastructure and road upgrades as well as exploration and field work testing. In addition, the funds received are expected to pay for general working capital costs and strengthen Vimy’s balance sheet.

Vimy managing director and CEO Mike Young commented:

The growing positive sentiment for nuclear clean energy has been the catalyst for this growth. Vimy is in a unique position to capitalise on the supply shortage by progressing the Mulga Rock Project into development, where our first stage AISC is less than the uranium spot price.

Share Purchase Plan offer

Complimenting the placement, Vimy will seek to raise $3 million from eligible shareholders through a SSP. The shares will be offered at the same price of the equity raise at 11 cents per share. It is expected that around 27.3 million new ordinary shares will be issued if fully taken up.

About the Vimy share price

Despite today’s fall, the Vimy share price has shot up over 150% in the past 12 months. When looking at year-to-date performance, the company’s shares are sitting on a gain of more than 40%.

Based on valuation grounds, Vimy has a market capitalisation of roughly $91.1 million with 778.6 million shares on issue.

More reading

• Why the Vimy Resources (ASX:VMY) share price is charging 8% higher

Motley Fool contributor Aaron Teboneras 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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