Ray Dalio founded (and used to run) one of the world’s largest hedge funds – Bridgewater Associates – back in 1973. Bridgewater is perhaps most well known for its significant outperformance during the global financial crisis back in 2008–09. It was able to do this through a strategy of ‘macro-investing’.

Macro-investing involves deploying capital based on global economic factors, rather than individual stock picks. 

With more than US$140 billion in assets under management, Dalio and Bridgewater are areas that many investors like to keep an eye on. Just a few days ago, we covered how Dalio is warning investors to stay away from cash and bonds as asset classes in the current economic environment.

But today, we get a rare glimpse into which investments Dalio and Bridgewater have been buying of late.

According to reporting from Business Insider, Bridgewater’s 13F filing was made public earlier this week. A 13F is a regulatory filing in the United States that outlines the company or fund’s current investments. All major companies and investment funds in the US have to release a 13F to the markets every quarter. 

Dalio buys emerging markets, consumer staples

As reported by Business Insider, Bridgewater has been offloading investments in several exchange-traded funds (ETFs). The 3 largest funds Bridgewater is ditching are an S&P 500 fund (covering large-cap US shares), as well as 2 Chinese-based ETFs. Dalio reportedly offloaded about US$309 million in the S&P 500 ETF, and between $US12–34 million in the 2 China ETFs.

Where did this money flow to? Well, the report tells us that Bridgewater initiated large positions in 2 US giants: Walmart Inc (NYSE: WMT) and the Coca-Cola Co (NYSE: KO). He also topped up positions in McDonald’s Corp (NYSE: MCD), Mondelez International Inc (NASDAQ: MDLZ) and Procter & Gamble Co (NYSE: PG).

Additionally, Bridgewater also topped up a position in Alibaba Group Holding Ltd (NYSE: BABA) – a Chinese e-commerce giant. In addition, the report tells us that the firm also bought positions in 2 emerging markets ETFs. These normally include China as well as other emerging markets like India, Russia and Taiwan.

Interestingly, Dalio has said in the past that “not investing in China is risky”. So it’s fascinating to see Bridgewater sell out of China ETFs and buy emerging markets funds instead.

It’s also notable that Bridgewater has decreased the broad-market exposure that the S&P 500 provides in place of large investments into consumer staples stocks like Coca-Cola, Walmart, McDonald’s, Mondelez and Procter & Gamble. These stocks tend to be viewed as ‘defensive’ due to the ‘staple’ nature of the products they sell, such as food, drinks and household essentials.

More reading

• Better buy: Alibaba vs. Amazon
• Here are the US shares that CommSec customers are buying
• Like oysters? New ASX company forecasts 300% growth
• Here are the US shares that CommSec customers are buying
• What COVID-19? World’s 5 most valuable brands are up 54%

Sebastian Bowen owns shares of Coca-Cola, McDonald’s, and Procter & Gamble. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Alibaba Group Holding Ltd. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The S&P/ASX 50 index contains 50 of the largest listed companies on the Australian share market.

This includes many of the most well-known and highest quality companies in the ANZ region.

Two ASX 50 shares that come highly rated are listed below. Here’s what you need to know:

CSL Limited (ASX: CSL)

CSL is one of the world’s leading biotechnology companies. It has been a great place to invest over the last 10 years. Since this time in 2010, the CSL share price has generated an average total return of approximately 25% per annum.

This has been driven by its leading therapies and vaccines, its growing plasma collection network, and its high level of investment in research and development. In respect to the latter, CSL spent US$922 million on its research and development activities in FY 2020 and will invest even more this year. This is ensuring that its product pipeline is filled to the brim with potentially lucrative products.

One broker that is a fan of its research and development activities is UBS. It recently put a buy rating and $346.00 price target on its shares. It notes that product development has been a key driver of growth over the last few years and appears confident that this will be the case in the future.

Lendlease Group (ASX: LLC)

Lendlease is a global property and infrastructure company. Although its performance in FY 2020 was disappointing and led to the company reporting a loss of $310 million, its outlook is becoming increasingly positive.

This is due to the divestment of its struggling engineering business and the announcement of a major new strategy. The latter is shifting its earnings mix and business model favourably and looks to have positioned it perfectly for long term growth. This should be supported by some major urbanisation projects such as Thamesmead Waterfront in London and a partnership with Google in the San Francisco Bay Area.

One broker that is a fan of the strategy shift is Goldman Sachs. It recently put a buy rating and $16.74 price target on the company’s shares. The broker notes that its shares are trading at a discount to peers and expects this to narrow if it executes its new strategy successfully.

More reading

• ASX 200 expected to drop lower amid COVID-19 vaccine concerns
• Stockland (ASX:SGP) share price up 3% after new chief announced
• ASX stock winners from the $23 billion Victorian state budget
• Could Citi’s forecast spell good news for the Lendlease (ASX:LLC) share price?
• ASX 200 to rise after positive AstraZeneca COVID-19 vaccine news

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of CSL Ltd. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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Australians are busy Googling technology companies to buy shares in, according to new research.

The study commissioned by investor education provider Invezz.com found that 9 out of the 10 most-searched stocks are in the tech sector.

Tesla Inc (NASDAQ: TSLA) was the most-searched share among Australians, seeing an average monthly search volume of 79,800 over the last 12 months.

The result is perhaps not surprising, with the electric car maker’s shares going gangbusters this year. It started 2020 at US$86.05 but is now US$574 — multiplying 6.7-fold in just 11 months, during a pandemic year no less.

In fact, The Motley Fool reported this week that there are now more Tesla shareholders in Australia than people who actually own the company’s cars.

The only ASX share Australians are interested in

Zero-brokerage trading platforms for US shares have apparently shifted Australian investors’ attention overseas. The only ASX-listed company to feature in the top 10 was Afterpay Ltd (ASX: APT).

The buy now, pay later provider’s shares have also been on a wild uphill ride. 

The Afterpay share price sat at $8.90 during the bottom of the COVID-19 crash, but is now hovering around $96. It has broken the $100 ceiling several times in recent weeks.

Rank	Company	Average online monthly search volume
1	Tesla Inc (NASDAQ: TSLA)	79,800
2	Amazon.com Inc (NASDAQ: AMZN)	44,900
3	Apple Inc (NASDAQ: AAPL)	34,800
4	Afterpay Ltd (ASX: APT)	21,000
5	Facebook Inc (NASDAQ: FB)	20,000
6	Boeing Co (NYSE: BA)	13,900
7	Netflix Inc (NASDAQ: NFLX)	13,300
8	Uber Technologies Inc (NYSE: UBER)	8,500
9	Microsoft Corporation (NASDAQ: MSFT)	4,500
10	NVIDIA Corporation (NASDAQ: NVDA)	3,900
Statistics from November 2019 to October 2020 collected by Ahrefs.com Source: Invezz.com; table created by author

The only non-technology share in the top 10 was Boeing Co (NYSE: BA).

The aerospace company has had a turbulent couple of years with well-publicised accidents in its new 737 MAX plane and COVID-19 killing the aviation industry.

The share price reached US$440 in March last year just before the manufacturer grounded the 737 MAX. It then sunk to US$95.01 in March as flying became a distant memory.

Boeing stocks have climbed well this month in anticipation of coronavirus vaccines to sit currently at US$217.61.

Australians want knowledge before diving into shares

The study also asked more than 1,700 Australians who did not own shares what would encourage them to buy some.

Almost three-quarters said more knowledge of what they’re investing in would get them over the line. Cutting down on personal expenses to free up more cash was the big concern for 65% of respondents.

A fear of risk was also a factor that caused hesitation. An acceptance of those risks would get 62% to buy their first shares, while 34% would take the leap if they were less afraid of negative market forecasts.

More reading

• 5 things to watch on the ASX 200 on Friday
• Better buy: Alibaba vs. Amazon
• Will Netflix stock crash in 2021?
• Down 17%, is Apple stock a buy?
• More Aussies now own Tesla shares than Tesla cars

John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Teresa Kersten, an employee of LinkedIn, a Microsoft subsidiary, is a member of The Motley Fool’s board of directors. Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to its CEO, Mark Zuckerberg, is a member of The Motley Fool’s board of directors. Tony Yoo owns shares of AFTERPAY T FPO and Amazon. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Amazon, Apple, Facebook, Microsoft, Netflix, NVIDIA, and Tesla. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. recommends Uber Technologies and recommends the following options: long January 2021 $85 calls on Microsoft, short January 2021 $115 calls on Microsoft, short January 2022 $1940 calls on Amazon, and long January 2022 $1920 calls on Amazon. The Motley Fool Australia owns shares of AFTERPAY T FPO. The Motley Fool Australia has recommended Amazon, Apple, Facebook, Netflix, and NVIDIA. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The S&P/ASX 200 Index (ASX: XJO) is expected to drop lower this morning, with SPI futures currently pointing to a 0.3% decline at the open.

This decline appears to have been driven by concerns over the AstraZeneca-Oxford University COVID-19 vaccine candidate, AZD1222.

What has happened?

Last week AstraZeneca revealed that its phase three trial data showed that its vaccine candidate was highly effective against COVID-19 with certain dosages.

The data showed that when trial participants were given a half dose, followed by a full dose at least one month apart, the vaccine was 90% effective. Whereas, when given as two full doses at least one month apart, the vaccine showed just 62% efficacy.

Overnight, the pharmaceutical giant revealed that the more effective dosage was actually administered by accident and due to a manufacturing error.

According to CNBC, the head of the U.S. Operation Warp Speed program also revealed that the smaller dose was given to the lowest risk group, which totalled 2,741 people below the age of 55. The group whose results displayed 62% effectiveness, were older and numbered 8,895.

However, the pharmaceutical giant has hit back at criticism, noting that the trial was monitored by the external Data Safety Monitoring Board (DSMB). It also advised that the data constituted interim results and that more data would follow.

It told CNBC: “The studies were conducted to the highest standards. An independent DSMB safety monitoring committee oversees the studies to ensure safety and quality. The DSMB determined that the analysis met its primary endpoint showing protection from COVID-19 occurring 14 days or more after receiving two doses of the vaccine.”

“More data will continue to accumulate and additional analysis will be conducted refining the efficacy reading and establishing the duration of protection,” the spokesperson said.

What now?

There are concerns that the FDA will not look kindly on this data and could request another trial to prove its efficacy. This could mean that a launch is pushed back to a later than originally expected date.

U.S.-based health care and biotech investment bank SVB Leerink isn’t confident the FDA will believe this data is sufficient.

Its analysts said: “We believe that this product will never be licensed in the U.S. This belief is based on the design of the company’s pivotal trials which does not appear to match the FDA’s requirements for representation of minorities, severe cases, previously infected individuals and elderly and other increase risk populations.”

Overnight, AstraZeneca’s CEO, Pascal Soriot, admitted that it was likely to run an additional global trial to evaluate the efficacy of the COVID-19 vaccine.

Elsewhere, the CSL Limited (ASX: CSL) share price will be on watch today because of this news. It is currently manufacturing this vaccine in Melbourne.

More reading

• 5 things to watch on the ASX 200 on Friday
• ASX 200 falls on Thursday
• ASX 200 flat: Bega Cheese announces major acquisition, WiseTech reaffirms guidance
• The real earnings growth driver for ASX bank stocks in FY21 isn’t what you think
• 5 things to watch on the ASX 200 on Thursday

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of CSL Ltd. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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At present, National Australia Bank Ltd (ASX: NAB) is offering interest rates of just 0.6% on 12-month term deposits. This is broadly in line with what the rest of the banks are offering.

This means that even if you were to invest $1 million into these term deposits, you would receive just $6,000 of income per annum.

That’s clearly not sufficient for an income to live from.

Luckily, there are plenty of dividend shares on the Australian share market offering far greater yields.

One example of this is Telstra Corporation Ltd (ASX: TLS).

This telco giant has certainly had a few tough years, but its outlook is now improving greatly. This is thanks to its T22 strategy and the NBN rollout progress.

In respect to the former, Telstra’s strategy is simplifying its business and cutting costs materially. This includes potentially splitting into three separate entities, with the aim of taking advantage of potential monetisation opportunities for its infrastructure assets.

One broker that is pleased with this plan and believes Telstra is well-positioned for a return to growth in the not so distant future is Goldman Sachs. Its analysts recently reiterated their buy rating and $3.75 price target on its shares.

They also believe Telstra will pay a 16 cents per share dividend for the foreseeable future. Based on the current Telstra share price, this represents a fully franked 5.1% dividend yield.

This is more than eight times greater than the term deposits on offer from NAB.

What did Goldman say?

Commenting on its plan to split into three, Goldman said: “We believe the update from Telstra will be viewed positively, given: (1) it reflects a greater willingness to monetize its attractive infrastructure assets to create shareholder value; and (2) underlying earnings trends, particularly in mobile, which looks to be trending favorably, supporting the improved FY23 ROIC target.”

“This supports our positive view on Telstra, which continues to be predicated on: (1) A positive mobile inflection approaching, which typically drives outperformance; (2) The 16cps dividend is a sustainable, and could be supplemented by meaningful TowerCo proceeds; and (3) Significant Infrastructure value, which could be crystallized over time as we head towards NBN privatization,” it added.

More reading

• Is the CBA (ASX:CBA) share price overvalued?
• Which of these ASX bank shares offers the highest dividend?
• Telstra faces $50 million fine for ‘unconscionable conduct’
• The real earnings growth driver for ASX bank stocks in FY21 isn’t what you think
• Why the Cann Group (ASX:CAN) share price is up 76% this week

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Telstra Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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On Thursday the S&P/ASX 200 Index (ASX: XJO) ended its winning streak and dropped lower. The benchmark index fell 0.7% to 6,636.4 points.

Will the market be able to bounce back from this on Friday? Here are five things to watch:

ASX 200 expected to drop lower.

It looks set to be a subdued end to the week for the Australian share market. According to the latest SPI futures, the ASX 200 is expected to fall 16 points or 0.25% at the open. This follows a weak night on Wall Street which in late trade sees the Dow Jones down 0.6%, the S&P 500 down 0.2%, and the Nasdaq up 0.5%.

Tech shares on watch.

Although the market is expected to drop lower, another rise on the tech-focused Nasdaq index could be good news for local tech shares. This could mean tech shares such as the likes of Afterpay Ltd (ASX: APT) and Appen Ltd (ASX: APX) finish the week on a positive note today.

Oil prices pull-back.

Energy shares including Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) may end the week in the red after oil prices pulled back. According to Bloomberg, the WTI crude oil price is down 1.6% to US$44.99 a barrel and the Brent crude oil price has fallen 1.8% to US$47.73 a barrel. Weak U.S. jobs data and COVID concerns weighed on prices.

Gold price pushes higher.

Gold miners such as Evolution Mining Ltd (ASX: EVN) and Newcrest Mining Ltd (ASX: NCM) will be in focus today after the gold price pushed higher. According to CNBC, the spot gold price is up 0.2% to US$1,814.20 an ounce. Weak economic data and criticism of the AstraZeneca vaccine gave the precious metal a boost.

Bega Cheese’s major acquisition.

The Bega Cheese Ltd (ASX: BGA) share price could return from its trading halt this morning. It halted its shares to launch an underwritten entitlement offer and placement to raise $401 million. The proceeds will be used to partly fund the acquisition of Lion Dairy & Drinks for $534 million. Lion Dairy & Drinks is the company behind a wide range of brands such as Dare, Farmers Union, Juice Brothers, Pura, and Yoplait. Management expects the acquisition to be double digit earnings per share accretive in FY 2022.

More reading

• ASX 200 falls on Thursday
• ASX 200 flat: Bega Cheese announces major acquisition, WiseTech reaffirms guidance
• Bega Cheese (ASX:BGA) announces $534 million Lion Dairy & Drinks acquisition
• The real earnings growth driver for ASX bank stocks in FY21 isn’t what you think
• 5 things to watch on the ASX 200 on Thursday

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Appen Ltd. The Motley Fool Australia owns shares of AFTERPAY T FPO. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Intellihr Ltd (ASX: IHR) share price is up 8% today, after the human resources (HR) technology company announced 2 positive updates. The company reported significant new business growth in the United States in the first half of FY21, and its first contract win in the United Kingdom.

At the time of writing, the intelliHR share price is trading up 8.33% at 26 cents, a retreat from its intraday high earlier when it was up 17% at 28 cents.

What else did intelliHR say today

intelliHR says major customer acquisitions in the US have contributed to 50% of its subscriber growth in the first half.

The company pointed to the acquisition of a leading sales solutions provider OSL Retail Services as especially significant. That account has provided intelliHR with a 2- year contract with a minimum commitment of $335,000. Further subscriber growth and upgrade to premium plans are expected. 

Subscriber numbers on its platform have increased 148% year-on-year, and doubled in first 5 months of FY21 with a total of 28,779 subscribers.

As a result, the company’s contractual annual recurring revenue (ARR) increased to $2.8 million, which it expects to grow even further in this half. This represents a new record ARR acquisition for the company, which is up 159% year-on-year from H1 FY20.

A brief take on intelliHR

intelliHR is a software-as-a-service (SaaS) provider that develops and sells cloud-based HR management software. The company has active users in Australia, New Zealand, Europe, North America, Asia and Africa.

More reading

• Why the Greenland Minerals (ASX:GGG) share price rebounded today
• ASX stock of the day: Stealth Global (ASX:SGI) shares explode 32% on acquisition news
• Why the Unibail (ASX:URW) share price has fallen 3% today
• 2 ASX shares delivering explosive growth in FY 2021
• ASX 200 falls on Thursday

Motley Fool contributor Eddy Sunarto has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Greenland Minerals Ltd (ASX: GGG) share price finished the day up 3.9% today.

Although November hasn’t been kind to shareholders, with shares down 3.6% so far this month, the company has performed strongly this year.

Shaking off a 46% share price plummet during the wider COVID-market panic in February and March, shares are currently up 108% year-to-date.

By comparison the All Ordinaries Index (ASX: XAO) is up less than 1%.

What does Greenland Minerals do?

Although Australian based, Greenland Minerals’ main project is the development of the Kvanefjeld rare earth project in Greenland. The company has been operating in Greenland since 2007.

Once developed, the company forecasts that Kvanefjeld will be a large-scale and low-cost source of rare earth minerals to support the burgeoning clean energy revolution.

Why did Greenland Mineral’s share price gain 4% today?

Greenland Minerals emerged from a trading halt yesterday after announcing it had received firm commitment for a $30 million capital raising via a share placement to institutional, sophisticated and professional investors. The placement was priced at 24 cents per share.

Yesterday, the company’s first day of trading since Friday, this announcement saw shares sell off from Friday’s 30-cent closing price, losing 10%.

Today’s gains likely came as investors sensed value.

Although capital raisings can be dilutive (this one will see 125 million new shares issued), they can also add value if the company puts the new capital to good use.

Greenland Minerals reported it will use the new capital to finalise licencing and permitting; to convert its optimised feasibility study to a definitive feasibility study; to advance offtake and project funding discussions; and to accelerate pre-development work.

Commenting on the capital raising, Greenland Minerals’ managing director John Mair said:

The Kvanefjeld rare earth project is globally unique in terms of scale and favourable metallurgy, combined with large, low-cost output of all critical magnet rare earths, and has Greenland well-positioned to be a cornerstone to future international rare earth supply.

A strong level of international investor support in the capital raising is testament to the growing profile of Kvanefjeld… The capital raising comes on the back of important permitting milestones, and will allow us to accelerate all pre-development work program at a pivotal time with the demand for rare earths set to surge substantially through the coming years…

More reading

• ASX stock of the day: Stealth Global (ASX:SGI) shares explode 32% on acquisition news
• Why the Unibail (ASX:URW) share price has fallen 3% today
• 2 ASX shares delivering explosive growth in FY 2021
• ASX 200 falls on Thursday
• Marley Spoon (ASX:MMM) rival set to list on the ASX

Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Stealth Global Holdings Ltd (ASX: SGI) share price is on fire today, having surged 32.53% at the time of writing to 11 cents a share.

Stealth Global shares had closed at just 8.3 cents a share yesterday, but opened at 10 cents a share this morning and rocketed as high as 18 cents a share in early trading (up 80%) before settling to the current share price.

Although today’s move is a dramatic one, it actually leaves Stealth Global up just 10% year to date (YTD) – it was down 20% YTD on yesterday’s closing price. 

So who is this company? And why is Stealth Global exploding in value (and volatility) today?

An intro to Stealth

Stealth Global is a supplier and distributor of industrial and safety workplace products and essentials. The company describes itself as an Australian multinational distribution group headquartered in Perth, Western Australia. It operates across Australia, United Kingdom and Africa as its primary markets, and other select international markets.

The company’s network revolves around 3 operating brands in the workplace supplies space: Heatleys Safety and Industrial, Industrial Supply Group, and BSA Brands. Heatleys is a broad range supplier and distributor of safety and industrial products in Australia, whereas BSA Brands performs a similar function for the United Kingdom and African markets

Industrial Supply Group, however, performs a slightly different function. It is a “member-based buying group” or coalition of sorts, that collaborates with major brands in the industrial equipment space in a wholesale network. These include well-known brands like Sutton Tools and WD-40.

Overall, Stealth Global stocks more than 300,000 products from roughly 1,060 suppliers. Over 40,000 line items are stocked in the company’s distribution centres and stores.

Stealth Global has been weathering a difficult 2020 well. In its full-year results for FY2020, the group reported revenue growth of 8% to $68.1 million, and earnings (underlying EBITDA) growth of 68% to $3.2 million. The Australian market remains the crown jewel for Stealth Global though — providing 83% of FY20’s sales, which were up 36% on last year’s numbers.

Why is the Stealth Global share price rocking today?

The stellar performance of the Stealth Global share price has likely been sparked by an ASX announcement the company released to the markets today just before open. The company has reportedly reached “an agreement in principle” to acquire 100% of the shares of the Brisbane-based C&L Tool Centre Pty Ltd (a private company). 

The reported price tag is $3.83 million, a figure that Stealth Global claims represent 3x FY20’s earnings for C&L.

The $3.83 million figure will be made up of $2.45 million in cash, $480,000 in new Stealth Global shares, and $900,000 in deferred payments over the following 12 months after the acquisition is settled on 1 December.

The company had the following to say on the announcement:

C&L is very complementary to the existing Stealth business with similar customer base, suppliers and services that provide the basis in ease of integration, synergies, and expansion. It has solid long-term stakeholder relationships and high-quality products, services, and solutions. These include product sales, fulfilment, distribution, and a service department to large multi-national corporations, large domestic companies, small-to-medium business enterprises, schools and universities, and government agencies.

At the time of writing, the Stealth Global share price is up by 32.53% to 11 cents a share.

More reading

• Why the Unibail (ASX:URW) share price has fallen 3% today
• 2 ASX shares delivering explosive growth in FY 2021
• ASX 200 falls on Thursday
• Marley Spoon (ASX:MMM) rival set to list on the ASX
• Why has the Ainsworth Game (ASX:AGI) share price dropped 7% today?

Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Unibail-Rodamco-Westfield CDI (ASX: URW) share price has fallen today after the company announced an oversubscribed placement. Shares in Europe’s largest commercial real estate provider are trading 3.47% lower at a price of $5.00.

The placement comes in a month which has seen the Unibail share price rocket up 74%.

What happened?

Last night, the real estate investment trust (REIT) announced plans to raise up to 1 billion euros through 6 and 11-year bonds. The offer was set to expire on 1 December but received enormous support and consequently, the results have already been released. The two bonds on offer were:

• A 1 billion euro bond with a 6-year and 5 months maturity and a 0.625% fixed coupon
• A 1 billion euro bond with an 11-year maturity and a 1.375% fixed coupon.

Unibail also said net proceeds from the offer would be used for general corporate purposes including the funding of the concurrent tender offer as well as refinancing upcoming bond maturities.

Placement complete

As mentioned, the offer was wrapped up in record time with Unibail announcing its completion later in the day.

The REIT successfully priced its 2 billion euro two-tranche senior bond offering, strengthening its liquidity position and extending its debt maturity as a result.

The issuance was more than three times subscribed, with Unibail stating that it received more than 6.5 billion euros in demand.

What now for the Unibail share price

The Unibail share price has soared in recent weeks, marking a stark change in fortune for the company which was hard hit by the COVID-19 pandemic. However, the REIT is still a long way off its 52-week high of $11.68 earlier in the year.

More reading

• ASX 200 Weekly Wrap: ASX continues to climb, despite outage
• These were the best performing ASX 200 shares last week
• Another major shakeup for Unibail Rodamco Westfield (ASX:URW) shareholders
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Motley Fool contributor Daniel Ewing has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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