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The Bionomics Ltd (ASX: BNO) share price is charging higher today, up 16.67% at the time of writing on the back of a subscription agreement announcement.

Bionomics is a clinical-stage biopharmaceutical company that develops treatments for central nervous system disorders, such as anxiety, depression and Alzheimer’s disease.

Bionomics has a portfolio of drug candidates from early to mid stages of clinical development. This portfolio is fed by the company’s proprietary technology platforms for each step in the drug discovery and development process.

Before we dig into the announcement, it’s important to note that we’re very much at the smaller end of the ASX here. Bionomics shares are currently changing hands at 5.6 cents per share, taking market capitalisation to around $30 million.

Why the Bionomics share price is jumping higher today

This morning, Bionomics announced it has entered into a subscription agreement with Apeiron Investment Group to recapitalise the company and assist in securing further equity capital.

Over the last few years, Apeiron has made investments in several European and US-based biotech companies, with a particular focus on the development of novel treatments for various mental health disorders.

Under the subscription agreement, Apeiron agrees to subscribe or procure subscriptions of 135.83 million shares at an issue price of 4 cents per share – raising $5.43 million. This is to proceed in 2 tranches of 81.5 million shares and 54.33 million shares, with the second tranche being subject to shareholder approval.

On top of this, Apeiron also agrees to underwrite further capital raisings by Bionomics within a 15-month period from an extraordinary general meeting of shareholders (EGM) to be convened. This will have the effect that Bionomics will raise up to $15 million at a minimum issue price of 6 cents per share – subject to approvals from shareholders and the Foreign Investment Review Board (FIRB).

What does this mean?

Overall, if shareholder and FIRB approvals are received, Bionomics expects to raise between $20.4 million and $22 million. This would ensure that the company has significant funds to progress phase 2 clinical trials for its lead compound, BNC210, for the treatment of PTSD and other anxiety and stress-related disorders.

In November 2019, BNC210 received Fast Track Designation from the US Food and Drug Administration (FDA) for the treatment of PTSD.

The recapitalisation will commence with the issue within Bionomics’ existing placement capacity of 81.5 million shares – the first tranche raising $3.26 million. Following completion, Apeiron will own approximately 13% of Bionomics and will be invited to nominate a director to the board.

After this, Bionomics will then call an EGM seeking approval to place a further 54.33 million shares – the second tranche raising $2.17 million. If this proceeds, Apeiron will own approximately 19.9% of Bionomics and will be invited to nominate a second director to the board.

As part of the subscription process with Apeiron, after the completion of the second tranche, an entitlement offer will be launched for eligible shareholders to purchase up to 54.33 million shares at 4 cents per share – the same price as the Apeiron subscriptions across the 2 tranches.

Commenting on today’s update, Bionomics chair Dr Errol De Souza said:

“We are pleased to have secured the support of a world-class and like-minded life science investor of the quality of Apeiron . . . The funding will ensure that we can initiate our second Phase 2b clinical trial in PTSD, which the Board believes will provide shareholders the best prospects to realise value in the Company.”

More reading

• 3 investing secrets for success with ASX shares
• Is the a2 Milk share price too high to buy?
• Leading brokers name 3 ASX shares to sell today
• ASX 200 investor in your 40s? 3 shares to buy now
• Why Evolution, Iress, Pro Medicus, & Vicinity shares are dropping lower

Motley Fool contributor Cathryn Goh 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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S&P/ASX 200 Index (ASX: XJO) investors in their 40s still have 15–25 years until retirement. Investors in this demographic are generally at the peak of their income-earning potential. This should allow them to invest significant amounts of capital into the share market, with plenty of time to generate compounding returns.

ASX 200 investors in their 40s

As investors, we’re a motley crew. We all have motley goals, motley resources and motley risk appetite. Because of this, it is important to understand your own personal circumstances and invest accordingly. The below ASX shares will be fantastic options for most investors in their 40s, but not for all. 

With so much time left until retirement, growth shares are still a fantastic option for investors in their 40s.

3 best ASX 200 shares to buy now

Nanosonics Ltd (ASX: NAN)

Nanosonics employs a razor and blade business model that I am a huge fan of. The company sells its Trophon disinfection machines at near cost price but then sells high margin consumables to the installed base of users. This provides amazing economics for a business that can grow its installed base.

Nanosonics has said their Q4 and thus FY20 installed base growth may be impacted by direct access to hospitals. Prior to this, their global installed base grew 17% in the last 12 months and 8% in the last 6 months. 

Magellan Financial Group Ltd (ASX: MFG)

Magellan has been an incredible investment since it was founded in 2006 by Hamish Douglass and Chris Mackay. Over the last 15 years, the Magellan share price has provided total returns of nearly 35% per annum.

Magellan offers two market-leading strategies, global equities and global listed infrastructure. The business has multiple funds on offer on the ASX and earns revenue through management fees and the like.

The share price is currently down 21% from its 14 February highs.

Resmed Inc (ASX: RMD)

Resmed is one of the few businesses to have benefited from the coronavirus pandemic, but that doesn’t mean it isn’t a great buy for the long term. 

The medical device company has a large total addressable market, with a focus on sleep apnea. Sleep apnea is majorly under-diagnosed, meaning education is important. As more people become aware of the condition, Resmed could grab market share in a growing market thanks to its high-quality products.

Further to this, the company has more recently looked at data and analysis as growth drivers. The share price is currently 10% below its 20 February highs, presenting a nice long term entry point.

Foolish bottom line

It’s worth noting that I own two of these ASX 200 shares, despite being in my mid-20s. Why? Because they are high-quality businesses with a proven track record over the long term.

More reading

• ASX 200 down 0.1%: Big four banks drag ASX lower ahead of RBA meeting
• Is the Newcrest Mining share price a buy?
• Is the NAB share price cheap today?
• The big oil price recovery and bounce in ASX oil stocks are bringing out the bears
• 2 ASX 200 shares to watch on Tuesday

Lloyd Prout owns shares of Nanosonics Limited and Resmed Inc. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Nanosonics Limited. The Motley Fool Australia has recommended Nanosonics Limited and ResMed Inc. 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.

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Nanosonics Limited. The Motley Fool Australia has recommended Nanosonics Limited and ResMed Inc. 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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In early afternoon trade the S&P/ASX 200 Index (ASX: XJO) has given back its morning gains and is dropping lower. At the time of writing the benchmark index is down 0.2% to 5,806.9 points.

Four shares that have not been able to follow the market higher today are listed below. Here’s why they are dropping lower:

The Evolution Mining Ltd (ASX: EVN) share price has fallen 2.5% to $6.14. A slight softening of the gold price is weighing on the gold miners today. In other news, this morning Evolution responded to media speculation and confirmed that it has been evaluating the possible divestment of its Cracow gold mine.

The Iress Ltd (ASX: IRE) share price has fallen 2% to $11.00. This morning the financial technology company’s shares returned from a trading halt after raising $150 million via an institutional placement. These funds were raised at $10.42 per new share, which represents a discount of 7%. The proceeds will be used to acquire Onevue Holdings Ltd (ASX: OVH).

The Pro Medicus Limited (ASX: PME) share price is down 3% to $28.48. The catalyst for this appears to be a broker note out of UBS this morning. It has downgraded the healthcare imaging software provider’s shares to a neutral rating with a $29.65 price target. While the broker likes Pro Medicus and was pleased with its latest contract win, it isn’t a fan of its current valuation.

The Vicinity Centres (ASX: VCX) share price has returned from its trading halt and dropped 3.5% to $1.54. This follows the completion of the shopping centre operator’s $1.2 billion institutional placement. Vicinity raised the funds at $1.48 per share, which represents a discount of 8% to its last close price. The proceeds will be used to strengthen its balance sheet during the tough trading conditions it is facing.

More reading

• ASX 200 down 0.1%: Big four banks drag ASX lower ahead of RBA meeting
• Why you might want to own ASX mining shares in 2020
• Forget cheap stocks. Why investors should watch ASX gold shares instead
• The latest ASX 200 stocks to be upgraded by top brokers
• ASX 200 up 0.6%: NAB charges higher, ACCC investigates Qantas acquisition

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. recommends Pro Medicus Ltd. The Motley Fool Australia owns shares of and has recommended Pro Medicus Ltd. The Motley Fool Australia has recommended IRESS 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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It has been a volatile day of trade for the S&P/ASX 200 Index (ASX: XJO) on Tuesday. At lunch the benchmark index has given back its late morning gains and is now down 0.1% to 5,812.6 points.

Here’s what has been happening on the market today:

Bank shares drop lower.

The big four banks are trading lower ahead of the Reserve Bank’s meeting this afternoon. At lunch all of the big four are in the red and acting as a drag on the index. The worst performer in the group has been the Westpac Banking Corp (ASX: WBC) share price with a 1% decline.

ANZ asset sale.

The Australia and New Zealand Banking GrpLtd (ASX: ANZ) share price is trading lower today after announcing an asset sale. ANZ has agreed to sell its New Zealand asset finance business, UDC Finance, to Japan’s Shinsei Bank for NZ$762 million. The sale will provide ~A$439 million (~10bps) of Level 2 Group CET1 capital at settlement. It will also release more than NZ$2 billion of funding provided by ANZ New Zealand.

Vicinity completes placement.

The Vicinity Centres (ASX: VCX) share price has dropped lower after returning from its trading halt. This follows the completion of its $1.2 billion institutional placement. These funds were raised at $1.48 per share, representing a discount of 8% to its last close price. Management advised that the equity raising will strengthen its balance sheet and provide the shopping centre operator with flexibility to respond to the uncertainty caused by COVID-19 and the evolving retail landscape.

Best and worst ASX 200 performers.

The best performer on the ASX 200 on Tuesday has been the Domain Holdings Australia Ltd (ASX: DHG) share price with an 8.5% gain. This may be down to better than expected Australian house price data. The worst performer has been the Vicinity share price with a 3.5% decline after its placement.

More reading

• ASX 200 investor in your 40s? 3 shares to buy now
• Why Evolution, Iress, Pro Medicus, & Vicinity shares are dropping lower
• Is the Newcrest Mining share price a buy?
• Is the NAB share price cheap today?
• ANZ share price climbs higher on asset sale

Motley Fool contributor James Mickleboro owns shares of Westpac Banking. 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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In late morning trade the S&P/ASX 200 Index (ASX: XJO) is on course to record another gain. At the time of writing the benchmark index is up 0.25% to 5,832.9 points.

Four shares that have climbed more than most today are listed below. Here’s why they are pushing higher:

The Amaysim Australia Ltd (ASX: AYS) share price has jumped 11% to 35.5 cents. This follows media speculation that the telco company is about to offload its energy business. Amaysim responded to the speculation by confirming that it engaged Luminis Partners some time ago to assist the board with considering options to unlock shareholder value. This includes looking at options for the energy business. However, it stopped short of confirming that a deal is close to being done.

The Bingo Industries Ltd (ASX: BIN) share price has surged 6% higher to $2.68. The catalyst for this strong gain appears to be a broker note out of Citi on Monday. Its analysts upgraded Bingo’s shares to a buy rating with a $3.10 price target. Citi believes concerns over a market share war are unnecessary and appears positive on margin improvements over the long term.

The Brickworks Limited (ASX: BKW) share price has risen 2.5% to $16.03. This follows the release of a trading update this morning by the building products company. For the four months ending 31 May, its BP Australia sales were down 10% on the prior corresponding period. BP North America sales were up 26% (due to acquisitions) and down 30% on a like for like basis. Some investors may have been expecting worse.

The BlueScope Steel Limited (ASX: BSL) share price has stormed 5% higher to $11.76. Investors have been buying the steel producer’s shares after analysts at Ord Minnett reiterated their accumulate rating and $11.90 price target. According to the note, the broker feels that now could be a good time to invest. It believes the worst is behind the company.

More reading

• Amaysim share price flies 22% higher after confirming interest in its energy business
• I think these 2 ASX 200 shares will beat the market
• Got $50,000 to invest for income? Pick these 5 ASX dividend shares
• How to make $1,000 a month in dividends
• Have $4,000? Invest in these 4 ASX shares right now

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Brickworks. 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 Amaysim Australia Ltd (ASX: AYS) share price is flying higher this morning after the company released an announcement in response to recent media speculation. 

Amaysim is a subscription utility provider, delivering mobile and energy plans to customers around the country. The company launched in 2010 and is Australia’s fourth-largest mobile service provider.

At the end of last year, Amaysim had 1.05 million total mobile subscribers and 201,000 energy subscribers.

Why the Amaysim share price is spiking today

This morning, Amaysim responded to recent media speculation about potential interest in its energy business.

“amaysim does, from time to time, receive a broad spectrum of interest in relation to its businesses. It is amaysim’s policy not to comment on, or engage with, market or media speculation,” the announcement read.

Shedding a bit more light, the company said, “as requested by the ASX, the company confirms that it engaged Luminis Partners some time ago to assist the Board with considering options to unlock shareholder value, including in respect of the energy business. A data room is maintained for the purpose of facilitating discussions with interested parties.”

Amaysim closed out the announcement by stating it is pleased with its overall performance in the current environment and confirmed it is in compliance with continuous disclosure obligations under the ASX Listing Rules.

Today’s announcement follows a report from the Australian Financial Review (AFR) last night that Origin Energy Ltd (ASX: ORG) is in the Amaysim data room, preparing a bid for Amaysim’s electricity and gas retailer, Click Energy. Amaysim acquired Click Energy in May 2017 for $120 million.

According to the AFR, the data room was originally set up to gauge investor interest in a potential capital injection or takeover. However, bidders quickly narrowed its sights to Amaysim’s energy operations.

The AFR believes the sale process has entered the second round and suitors have been sinking their teeth into detailed diligence measures. 

After being up by as much as 21.88% in early trade, the Amaysim share price is sitting 15.62% higher at the time of writing at 37 cents per share.

More reading

• Why Amaysim, Bingo, Brickworks, & BlueScope are pushing higher today
• 3 ASX sectors to benefit from local supply chains
• 3 ASX 200 energy shares to buy before crude oil price rises
• Leading fund manager sees good ASX buying opportunities
• Got $2,000? Here are 2 ASX 200 energy shares to buy today

Motley Fool contributor Cathryn Goh 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 Newcrest Mining Limited (ASX: NCM) share price has edged 4.10% higher in 2020, but is the ASX gold share in the buy zone?

Why the Newcrest Mining share price has outperformed in 2020

It’s been a reasonably good year for investors in ASX gold shares. The coronavirus pandemic has spooked investors and hurt the global economy. That means shares in Aussie gold miners like Newcrest have managed to outperform the S&P/ASX 200 Index (ASX: XJO).

The index is down nearly 13% this year despite climbing 1.10% higher yesterday. That means the Newcrest Mining share price has outperformed the ASX 200 benchmark by around 17%.

Those are some pretty handy numbers given the current market. As the global gold price continues to climb, so too does Newcrest’s value.

The Aussie gold miner now boasts a $25.1 billion market capitalisation. That means it is well entrenched inside the ASX 50 and could be climbing higher. 

But is now a good time to buy the ASX gold miner?

I personally think Newcrest shares are a touch overvalued right now. Investors are willing to pay a premium for safety, which has pushed Newcrest’s price-to-earnings (P/E) ratio to 28.45. 

With a dividend yield of 1.05%, Newcrest does offer some portfolio income while other ASX shares are slashing distributions. However, I still think there is a bit of panic buying surrounding ASX gold shares right now.

The ASX Resources sector could well outperform in 2020. There is a strong technical environment despite some question marks over exports and our relationship with China.

However, overall commodity prices are high, which is good for the Aussie economy. If the Aussie gold miner can continue production and post good sales numbers in August, the Newcrest Mining share price may be a bargain at $31.09 per share.

Foolish takeaway

The Newcrest Mining share price has managed to edge higher and significantly outperform in 2020. I think whether or not that trend continues is the big question.

In my mind, where the Aussie dollar goes and how geopolitical tensions play out in the coming months will be key.

More reading

• Is the NAB share price cheap today?
• Here are all the ASX 200 companies that announced capital raisings in May
• The big oil price recovery and bounce in ASX oil stocks are bringing out the bears
• 2 ASX 200 shares to watch on Tuesday
• Where to invest $5,000 into ASX 200 shares immediately

Motley Fool contributor Ken Hall 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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National Australia Bank Ltd. (ASX: NAB) shares have had a bumpy start to the year. The Aussie bank is trading at $18.07 per share at the time of writing. This is down 26.63% from where it started 2020 at $24.63.

So with all that’s happening on the ASX right now, is the NAB share price in the buy zone?

Why the NAB share price has slumped lower in 2020

The S&P/ASX 200 Index (ASX: XJO) is down 12.92% this year which means NAB shares are underperforming the index by quite a margin.

It’s not the only ASX bank share doing it tough right now. However, NAB has a large business banking segment that could be weighing on shareholders’ minds.

The coronavirus pandemic has spooked investors and raised question marks about global economic growth. Closer to home, many are wondering about loan performance in a downturn and the NAB share price has been sinking as a result.

NAB recently announced $807 million worth of pandemic-related provisions in its half-year earnings. The government stimulus programs are helping to prop up the economy but they won’t last forever.

However, there are signs that things are improving. Even the ‘best case’ forecasts have been bettered here in Australia and the economy is starting to re-open.

That could be good news for the NAB share price and investors. If businesses can start generating cash flow sooner than expected, loan impairments and lost earnings may be mitigated.

I think ASX bank shares can continue to be strong dividend shares in the future. That’s despite recent dividend cuts which will affect short-term portfolio earnings.

There are some who believe the neobanks will rise up and overtake the Big 4 in the coming decade. Even if that is the case, NAB has a stake in that game through its ownership of UBank.

Foolish takeaway

If you’re a buy and hold investor, I feel the NAB share price could represent a bargain at $18.07.

ASX bank shares could be in for a bumpy ride in 2020 but I still think the long-term picture is positive.

More reading

• Is the Newcrest Mining share price a buy?
• The big oil price recovery and bounce in ASX oil stocks are bringing out the bears
• 2 ASX 200 shares to watch on Tuesday
• How to value the big four ASX banks
• Where to invest $5,000 into ASX 200 shares immediately

Motley Fool contributor Ken Hall 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 Australia and New Zealand Banking GrpLtd (ASX: ANZ) share price has been a positive performer on Tuesday.

In morning trade the banking giant’s shares climbed 1.5% to $18.31. This follows the release of an announcement relating to an asset sale today.

What did ANZ announce?

This morning ANZ announced that it has agreed to sell its New Zealand asset finance business, UDC Finance, for NZ$762 million to Japan’s Shinsei Bank.

This sale follows a strategic review of the UDC Finance business. It is also in line with its strategy to simplify its business.

According to the release, the sale will provide ~A$439 million (~10bps) of Level 2 Group CET1 capital at settlement.

It will also release more than NZ$2 billion of funding provided by ANZ New Zealand, further strengthening its balance sheet position.

ANZ Bank New Zealand’s CEO, Antonia Watson, was pleased with the asset sale and believes it is a significant vote of confidence for the New Zealand economy.

She said: “With a strong outlook for infrastructure and agriculture projects as the New Zealand economy rebuilds post-Covid-19, there is a significant role for UDC Finance to play. As such, it needs an owner that can invest in and grow the business.”

“Shinsei Bank intends to preserve UDC’s operations, retain UDC employees and provide long term capital to maintain and grow customer lending in New Zealand. The sale will also mean UDC Finance will continue to operate as an independent finance company and enhance competition in the asset finance market,” Ms Watson added.

Is the ANZ share price in the buy zone?

The ANZ share price may have charged notably higher over the last couple of weeks, but I don’t think it is too late to invest.

Although it isn’t my top pick in the sector, I think it remains a great option at the current level. Especially given its improving balance sheet and the quicker than expected reopening of the Australian economy.

More reading

• The big oil price recovery and bounce in ASX oil stocks are bringing out the bears
• How to value the big four ASX banks
• How bankable are the big four ASX bank shares in 2020?
• 5 ASX 200 winners and 3 losers from last week
• ASX 200 Weekly Wrap: Surging bank shares push ASX toward 6,000

Motley Fool contributor James Mickleboro 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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This year there have been a large number of companies announcing capital raisings.

While the majority of these came at the height of the COVID-19 pandemic, they continued in May.

Here are all the capital raisings that occurred on the S&P/ASX 200 Index (ASX: XJO) last month:

Atlas Arteria Group (ASX: ALX)

Amount: $495 million, comprising a fully underwritten $420 million institutional placement and a non-underwritten Share Purchase Plan (SPP) to raise up to $75 million.

Offer price: $6.20 per new share, representing a 7.5% discount to its last close price.

Reason: The proceeds will be used to repay its existing €350 million MIBL Facility.

Blackmores Limited (ASX: BKL)

Amount: $117 million, comprising a fully underwritten $92 million institutional placement and non-underwritten SPP to raise up to ~$25 million.

Offer price: $72.50 per new share, which represents an 8.1% discount to its last close price.

Reason: To accelerate growth in Asia, invest in efficiency program, and position its balance sheet for strength.

Breville Group Ltd (ASX: BRG)

Amount: $104 million, comprising a fully underwritten $94 million institutional placement and a $10 million underwritten SPP.

Offer price: $17.00 per new share, which equates to a 9.1% discount to its last close price.

Reason: To enhance Breville’s financial flexibility to continue to invest in the execution of its growth agenda while maintaining a strong financial position. The former includes entering new markets in FY 2021.

Incitec Pivot Ltd (ASX: IPL)

Amount: $675 million, comprising a $600 million fully underwritten institutional placement and a non-underwritten SPP of up to $75 million.

Offer price: $2.00 per new share, which represents an 8.7% discount to its last closing price.

Reason: To take pre-emptive action to strengthen its balance sheet to increase resilience in the current environment and provide financial flexibility to pursue disciplined organic growth opportunities.

Mesoblast limited (ASX: MSB)

Amount: US$90 million (A$138 million) via a placement to existing and new institutional investors.

Offer price: A$3.20 per new share, which represents a 7% discount to its last close price.

Reason: The proceeds will be used predominantly to scale-up manufacturing of its lead product candidate remestemcel-L. This product is for the treatment of critically ill patients suffering with diseases caused by cytokine release syndromes associated with high mortality, particularly COVID-19 acute respiratory distress syndrome.

National Storage REIT (ASX: NSR)

Amount: $330 million, comprising a fully underwritten $300 million institutional placement and a non-underwritten SPP to raise up to a further $30 million.

Offer price: $1.57 per new share, which represents a 7.1% discount to its last close price.

Reason: To strengthen its balance sheet, replenish investment capacity, and provide additional funding flexibility.

Newcrest Mining Limited (ASX: NCM)

Amount: $1.1 billion, comprising a $1 billion fully underwritten institutional placement and a $100 million SPP.

Offer price: $25.60 per new share, representing a 7% discount to its last closing price.

Reason: To purchase the Fruta del Norte Financing Facilities and to fund future growth options such as the construction of declines at Havieron and Red Chris.

Qube Holdings Ltd (ASX: QUB)

Amount: $500 million via a fully underwritten 1 for 6.35 accelerated non-renounceable entitlement offer.

Offer price: $1.95 per new share, representing an 11.8% discount to its last close price.

Reason: To leave the company conservatively geared, with significant balance sheet flexibility and liquidity to continue to pursue its robust growth agenda.

United Malt Group Ltd (ASX: UMG)

Amount: $165 million, comprising a fully underwritten $140 million institutional placement and a non-underwritten $25 million SPP.

Offer price: $3.80 per new share, representing an 11.4% discount to its last close price.

Reason: Taking pre-emptive action to strengthen the balance sheet to increase resilience in the current environment and provide financial and operational flexibility to continue disciplined investment.

More reading

• 3 ASX 200 resources shares to buy today
• 5 things to watch on the ASX 200 on Tuesday
• Forget cheap stocks. Why investors should watch ASX gold shares instead
• ASX 200 Weekly Wrap: Surging bank shares push ASX toward 6,000
• 5 things to watch on the ASX 200 on Monday

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Blackmores 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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