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On Wednesday the S&P/ASX 200 Index (ASX: XJO) fought hard and managed to record a small gain. The benchmark index rose 0.1% to 7,364.8 points.

Will the market be able to build on this on Thursday? Here are five things to watch:

ASX 200 expected to rise

The Australian share market looks set to push higher on Thursday. According to the latest SPI futures, the ASX 200 is expected to open the day 24 points or 0.3% higher this morning. This follows a solid night on Wall Street, which in late trade sees the Dow Jones up 0.5%, the S&P 500 up 0.6%, and the Nasdaq up 0.6%.

Oil prices higher

Energy shares including Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) could have a good day after oil prices pushed higher again overnight. According to Bloomberg, the WTI crude oil price is up 1.9% to US$72.45 a barrel and the Brent crude oil price is up 1.4% to US$74.89 a barrel.

Gold price pushes higher

Gold miners Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) could have a good day after the gold price pushed higher. According to CNBC, the spot gold price is up 0.8% to US$1,803.60 an ounce. The gold price rose amid Omicron concerns.

Janus Henderson named as a buy

The Janus Henderson Group (ASX: JHG) share price could be great value according to the team at Bell Potter. According to a note, the broker has resumed coverage with a buy rating and price target of $71.00. The broker notes that in PE ratio terms, Janus Henderson’s shares are trading at 10.4x 2022 earnings. This is a 17% discount to US peers (12.5x).

Iron ore prices fall

The BHP Group Ltd (ASX: BHP) and Fortescue Metals Group Limited (ASX: FMG) shares could have a tough day after iron ore prices pulled back. According to Metal Bulletin, the spot benchmark iron ore price has fallen 2.6% to US$123.39 a tonne. Low grade 58% fines fell 2.5% to US$96.71 a tonne.

The post 5 things to watch on the ASX 200 on Thursday appeared first on The Motley Fool Australia.

More reading

• Here are the top 10 ASX shares today
• Own Fortescue Metals (ASX:FMG) shares? Here’s what to watch in 2022
• These 3 ASX 200 shares are topping the volume charts on Wednesday
• 2 strong ASX 200 dividend shares to own for income
• Top brokers name 3 ASX shares to buy today

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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If you’re looking for an easy way to invest in international shares for diversification, then exchange traded funds (ETFs) could be the answer. But which ETFs should you look at?

Listed below are three excellent ETFs for smart investors. Here’s what you need to know about them:

BetaShares NASDAQ 100 ETF (ASX: NDQ)

The BetaShares NASDAQ 100 ETF could be an ETF to consider for 2022. This ETF gives investors exposure to the 100 largest non-financial shares on the famous NASDAQ index. These are household names and include many of the largest companies in the world. Among the companies you’ll be owning a slice of are Amazon, Alphabet, Apple, Facebook/Meta, Microsoft, Netflix, Nvidia, and Tesla.

VanEck Vectors Morningstar Wide Moat ETF (ASX: MOAT)

Another ETF to consider is the VanEck Vectors Morningstar Wide Moat ETF. This ETF gives investors access to a diversified portfolio of fairly valued companies with sustainable competitive advantages. The latter is something that legendary investor Warren Buffett looks for when he picks his investments. At present, there are a total of 46 US based stocks in the fund. These include Amazon, Constellation Brands, Disney, Kellogg Co, Microsoft, and Salesforce.

VanEck Vectors Video Gaming and eSports ETF (ASX: ESPO)

A final ETF to consider is the VanEck Vectors Video Gaming and eSports ETF. This fund gives investors access to a portfolio of the largest companies involved in video game development, hardware, and esports. This means you’ll be buying a slice of companies such as graphics processing units company Nvidia, and game developers Activision Blizzard, Electronic Arts, Roblox, and Take-Two. These companies have been tipped to benefit from the increasing popularity of video games and eSports.

The post 3 ETFs for smart ASX investors in 2022 appeared first on The Motley Fool Australia.

More reading

• 2 top tech ETFs for 2022
• 2 strong ETFs that could be buys for 2022
• 3 ETFs for ASX investors in 2022
• 3 excellent ETFs for ASX investors to buy in December
• 2 top ETFs that could be buys in December 2021

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended BETANASDAQ ETF UNITS. The Motley Fool Australia owns and has recommended BETANASDAQ ETF UNITS. The Motley Fool Australia has recommended VanEck Vectors ETF Trust – VanEck Vectors Video Gaming and eSports ETF and VanEck Vectors Morningstar Wide Moat ETF. 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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Are you looking for a source of income in this low interest environment? If you are, then you may want to check out the ASX 200 dividend shares listed below.

Both dividend shares offer investors generous yields that smash the interest rates on offer with term deposits. Here’s what you need to know about them:

DEXUS Property Group (ASX: DXS)

The first ASX dividend share to look at is Dexus. It is an Australian real estate company focused on office, industrial and retail properties.

It recently revealed that 124 of its 189 assets have been externally valued, resulting in a ~$421 million or 2.4% increase in valuation. Management believe this demonstrates the strong demand for high quality industrial property.

But management isn’t resting on its laurels. The company has a $15.4 billion development pipeline, which provides it with an opportunity to grow both portfolios and enhance future returns.

Macquarie is positive on DEXUS and has an outperform rating and $11.93 price target on its shares. The broker is also forecasting dividends per share of 53.7 cents in FY 2022 and 57.5 cents in FY 2023. Based on the current Dexus share price of $11.08 this will mean yields of 4.8% and 5.1%, respectively.

Telstra Corporation Ltd (ASX: TLS)

Another dividend share to look at is Australia’s largest telco, Telstra. After years of disappointing investors with dividend cuts, the telco giant has turned a corner and now has analysts anticipating dividend increases in the near future.

This is being underpinned by the success of its transformational T22 strategy and its new T25 strategy which is aiming to deliver sustainable earnings growth over the coming years.

Goldman Sachs appears confident Telstra will deliver on its goals. It is forecasting 16 cents per share dividends for FY 2022 and FY 2023, before an increase to 18 cents per share in FY 2024 and then 19 cents per share dividend in FY 2025.

Based on the current Telstra share price of $4.13, this will mean fully franked yields 3.9% and then 4.35% and 4.6%, respectively. Goldman has a buy rating and $4.40 price target on the company’s shares.

The post These ASX 200 dividend shares are rated as buys appeared first on The Motley Fool Australia.

More reading

• Telstra (ASX:TLS) share price struggles amid new court order
• These 3 ASX 200 shares are topping the volume charts on Wednesday
• 2 non-telco sectors that could prove pivotal to Telstra’s (ASX:TLS) growth
• Dexus (ASX:DXS) share price edges lower despite valuation lift
• Here are the 3 most heavily traded ASX 200 shares this Friday

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns and has recommended Telstra Corporation Limited. 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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Today, the S&P/ASX 200 Index (ASX: XJO) pulled itself out of a midday rut to finish higher. At the end of the session, the benchmark index is 0.13% higher at 7,364.8 points.

Investors tended to shift towards the more risk-on shares today, with tech and healthcare companies getting a boost. Simultaneously, energy shares received an energetic jolt during today’s session following an increase in oil prices overnight. In contrast, real estate and mining shares failed to share in the same enthusiasm as the sectors suffered downward pressure.

However, the question is: which shares delivered the biggest returns to investors on the ASX today? Here are the top ten stocks that came through for investors:

Top 10 ASX shares countdown today

Looking at the top 200 listed companies, Link Administration Holdings Ltd (ASX: LNK) was the biggest gainer today. Shares in the administration services company soared 15.03% after confirming it has entered into a deal with Dye & Durham to be acquired for $5.50 per share. Find out more about Link Administration Holdings here.

The next biggest gaining ASX share today was Pilbara Minerals Ltd (ASX: PLS). The lithium producer surged 8.77% after Macquarie Group Ltd (ASX: MQG) named the company its top pick in the ASX lithium space. Uncover the latest Pilbara Minerals details here.

Today’s top 10 biggest gains were made in these ASX shares:

ASX-listed company	Share price	Price change
Link Administration Holdings Ltd (ASX: LNK)	$5.51	15.03%
Pilbara Minerals Ltd (ASX: PLS)	$2.73	8.77%
Pexa Group Ltd (ASX: PXA)	$17.23	6.03%
Afterpay Ltd (ASX: APT)	$87.49	5.41%
Ebos Group Ltd (ASX: EBO)	$37.00	4.23%
Liontown Resources Ltd (ASX: LTR)	$1.545	4.04%
Uniti Group Ltd (ASX: UWL)	$4.40	4.02%
IDP Education Ltd (ASX: IEL)	$35.33	3.91%
Lynas Rare Earths Ltd (ASX: LYC)	$9.36	3.89%
Mineral Resources Ltd (ASX: MIN)	$52.00	3.77%

Our top 10 ASX shares today countdown is a recurring end-of-day summary to ensure you know which companies were making big moves on the day. Check-in at Fool.com.au after the market has closed during weekdays to see which stocks make the countdown.

The post Here are the top 10 ASX shares today appeared first on The Motley Fool Australia.

More reading

• These 3 ASX 200 shares are topping the volume charts on Wednesday
• Link (ASX:LNK) share price surges 15% on takeover news
• 2 strong ASX 200 dividend shares to own for income
• Why Afterpay, Lovisa, Liontown, and Pilbara Minerals shares are racing higher
• Here’s why the Pilbara Minerals (ASX:PLS) share price is bouncing back 8% today

Motley Fool contributor Mitchell Lawler owns AFTERPAY T FPO, Lynas Corporation Limited, and Macquarie Group Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended AFTERPAY T FPO, Idp Education Pty Ltd, and Link Administration Holdings Ltd. The Motley Fool Australia owns and has recommended AFTERPAY T FPO. The Motley Fool Australia has recommended Macquarie Group Limited and Uniti Group Limited. 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 Cimic Group Ltd (ASX: CIM) share price fell slightly today despite a major government contract victory.

At market close, the Cimic share price was $16.46, down 0.3%.

Let’s take a look at what might have impacted investor sentiment for Cimic today.

Major project win

The mining, construction and engineering services company informed investors of a major $1.8 billion New South Wales government contract win for its subsidiary CPB Contractors.

The company has been selected for boxes and tunnelling works on the Sydney Metro railway line. It’s expected to deliver roughly $1.35 billion in revenue.

The train line will run between the suburb of St Mary’s and the new Western Sydney Airport station, due for completion in 2026. CPB Contractors is already working on the project.

The construction involves the design and construction of 9.8km of twin tunnels and works on several train stations.

Speaking on the contract win today, Cimic executive chairman and CEO Juan Santamaria said:

This is a strategic transport investment that will generate long lasting benefits for the people of Western Sydney and provide a significant boost to jobs during construction.

Today’s news comes amid some negative publicity for the company in recent days. Shares in Cimic tumbled more than 13% on Monday amid claims the company underpaid workers after it sold its Middle Eastern company BIC Contracting.

The plunge sparked a trading halt and a price query from the ASX, prompting the company to issue a statement assuring the market it was working to ensure the employees received their entitlements.

That took the shine off the company’s shares finishing in the green on Friday last week. That coincided with news of a commercial settlement on the West Gate Tunnel project in Melbourne.

Cimic share price snapshot

The Cimic share price has plunged the past 12 months, falling almost 34%. Year to date, the company’s shares are down 32%.

In contrast, the S&P/ASX 200 Index (ASX: XJO) has returned more than 11% to investors in the past year.

The company commands a market capitalisation of roughly $5.1 billion based on the current share price.

The post Cimic (ASX:CIM) share price struggles despite $1.8b contract win appeared first on The Motley Fool Australia.

More reading

• Cimic (ASX:CIM) share price recovers slightly on repayment pledge, closes 13% lower
• Cimic (ASX:CIM) share price dumps 15% before being halted. Here’s why
• Why Audio Pixels, CIMIC, Magellan, and St Barbara shares are tumbling
• ASX 200 (ASX:XJO) midday update: Magellan shares crash 28%, CIMIC tumbles
• Here’s why the Cimic (ASX:CIM) share price popped today

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Magnis Energy Technologies Ltd (ASX: MNS) share price edged higher on Wednesday. This came as the company provided an update on its New York lithium-ion battery plant.

At market close, the battery technology company’s shares finished up 1.16%, trading at 44 cents apiece.

Magnis set to achieve semi-autonomous production

Investors appear pleased with the company’s progress to date, sending the Magnis share price into positive territory on Wednesday.

According to its release, Magnis advised that recent activities have led to an overall project completion of 47% at the iM3NY Battery Plant.

Magnis is a major shareholder with roughly a 60% stake in iM3NY, a New York based Lithium-ion Battery plant.

The iM3NY plant is fully-funded to begin commercial production and scale up to 1.8 GWh, starting in the first-half of 2022. This will make it one of the largest players in the United States lithium-ion battery cell manufacturing market.

Currently, China is the global leader on lithium-ion batteries, however, the United States is quickly closing the gap.

The company noted that facility customisation work continues to gain momentum with equipment now being moved onto the factory floor. In terms of size, the factory floor is approximately 22,000 square metres, which is greater than three professional football fields.

The iM3NY team collaborated with Ramboll to continue advancing the lithium battery plant’s design feed information. This includes progressing on a number of detailed engineering design works to bring the project online.

Major construction works have been progressing and are expected to run through into early 2022.

Process equipment vendors will also be assisting with the installation of their respective equipment.

In the coming days, it’s anticipated that semi-autonomous production will begin with a batch of cells being produced.

Magnis chair, Frank Poullas commented:

We are excited by the progress made and the customer pipeline that is growing. We look forward to semi-automatous production beginning soon which will be a major milestone for the project.

Magnis share price snapshot

Over the last 12 months, the Magnis share price has soared 142%. This came off the back of a lithium-ion battery supply award by the United States government to Magnis’ partner, C4V.

On valuation grounds, Magnis presides a market capitalisation of roughly $425.67 million, with approximately 978.56 million shares on its registry.

The post Here’s why the Magnis (ASX:MNS) share price edged higher on Wednesday appeared first on The Motley Fool Australia.

More reading

• Magnis (ASX:MNS) share price leaps 6% on new supply deal
• Why have Magnis (ASX:MNS) shares just entered a trading halt?
• Magnis (ASX:MNS) share price slips after retracting $10b ‘potential’ valuation
• Here’s why the Magnis (ASX:MNS) share price is rocketing 21% today

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. 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 Kalium Lakes Ltd (ASX: KLL) share price has been in a sea of red all day today, dropping to an intraday low of 12.5 cents in afternoon trade. This comes after the mineral exploration company provided a number of updates on its Beyondie SOP Project (BSOPP) this morning.

At the time of market close, the Kalium Lakes share price was down 16.1%, trading at 13 cents apiece. Let’s take a look at what might have sent its shares down today.

But first, a little background…

The company’s Beyondie SOP Project, located in Western Australia, is mining to extract and produce sulphate of potash (SOP) — a high yield, premium fertiliser.

SOP is attractive for use in the growth of good-quality fruit and vegetables, enriching the colour of flowers and ultimately increasing potassium levels in organic fertilisers.

Kalium Lakes’ SOP production project is the first of its kind for Australia, and the company aims to deliver the product to both local and international markets.

Project construction completed

In the update released this morning, Kalium Lakes announced it had completed construction of the BSOPP site and obtained an operating license for the site from the Western Australia Department of Water and Environmental Regulation.

However, the miner also reported a lower-than-expected quantity of harvested and produced potassium salts.

The miner advised it had successfully produced a small amount of standard grade SOP, and deemed it a “practical achievement” for the site.

Looking forward, the company has identified later-stage commissioning hurdles with the SOP purification plant — including the variability in grades of harvested potassium salt, process control and non-critical mechanical issues.

However, both Kalium Lakes and its German partner, EBTEC (a joint venture that includes German-based K-UTEC AG Salt Technologies), have committed to resolve these issues to ensure smooth operations from here on.

Management commentary

Commenting on the updates, K-UTEC CEO Markus Pfänder said:

This is a strong validation of the process flowsheet and the work of all on-site personnel in delivering this landmark milestone. We now look forward to working alongside the Kalium Lakes’ team in completing commissioning and driving plant ramp up to steady state operations. 

All encountered plant issues are resolvable and we are currently implementing a detailed action plan to deliver targeted nameplate plant output levels.

Kalium Lakes CEO Len Jubber added:

The focus of the Kalium Lakes’ team and its project partners remains unchanged — delivering Beyondie to
commercial production and then nameplate capacity in a safe and sustainable manner as rapidly as
possible.

Kalium Lakes share price snapshot

The Kalium Lakes share price has experienced a volatile year, dropping 33% since January.

The company has a market capitalisation of around $152 million based on its current share price.

The post Why did the Kalium Lakes (ASK:KLL) share price sink 16% today? appeared first on The Motley Fool Australia.

More reading

• Own Fortescue Metals (ASX:FMG) shares? Here’s what to watch in 2022
• Telstra (ASX:TLS) share price struggles amid new court order
• Atturra (ASX:ATA) share price surges 23% following IPO
• Falcon Metals (ASX:FAL) share price nosedives 28% on IPO
• The AGL (ASX:AGL) share price is up 16% in a month. Here’s why:

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Shares in Fortescue Metals Group Limited (ASX: FMG) came into 2021 red hot after delivering a return of ~118% in 2020. Yet, the iron ore mining giant has been unable to produce a consecutive year of gains for shareholders this year.

An implosion of the steelmaking commodity’s price from July has weighed on Fortescue throughout the tail-end of this year. In a matter of months, the Fortescue share price went from above $26 to below $14. Fortunately, investors have recuperated some of this ground already, with shares now fetching $19.64.

However, the all-important question is: what does this top 10 ASX-listed company have on its plate in the year ahead?

New Year’s resolution to go green-ish

A big focus of Fortescue this year has been its emergence as a clean energy player. On 11 October, the company unveiled its newest subsidiary known as Fortescue Future Industries (FFI). This new segment of the company is focused on green hydrogen, among other energy alternatives.

For those unaware, digging iron ore out of the ground at a low cost is still the company’s primary objective. Although, the green initiatives outlaid by FFI appear to be attracting plenty of attention from investors. In turn, a couple of ‘green’ goals in 2022 will likely be under scrutiny by the market next year.

In 2022, Fortescue’s FFI plans to deploy a demonstration locomotive in the company’s rail operations. This follows the success of a trial ammonia fuel blend in a two-stroke locomotive earlier this year. The company’s former CEO, Elizabeth Gaines stated:

Fortescue’s fleet of locomotives is a critical element in decarbonising our operations and through FFI we are investing in cutting-edge technologies to power the green mining fleet of the future.

Similarly, the company is aiming to convert one of its iron ore transport vessels to run on green ammonia by the end of next year.

Dividend decision looms for Fortescue shares

Another facet of the company that will likely be closely watched by shareholders is Fortescue’s dividends. Following a period of share price pressure, the company’s trailing dividend yield has ballooned to 18.1%. In turn, the market is speculating over whether the mining giant will slash dividends next year.

Analysts at Macquarie are still expecting a dividend bonanza from Fortescue shares in FY22. According to the broker, shareholders could be set to enjoy a grossed-up dividend yield of 14.9% during the financial period. Not too shabby considering the industry average is around 9.5%.

The post Own Fortescue Metals (ASX:FMG) shares? Here’s what to watch in 2022 appeared first on The Motley Fool Australia.

More reading

• These 5 ASX shares grew revenue by more than 70% in the last year
• Fed up with term deposits? How to get 10% income from ASX shares
• Up 20% in a month: Is the Fortescue (ASX:FMG) share price a buy?
• What do investors really think of Fortescue’s (ASX:FMG) green hydrogen push?
• Fortescue (ASX:FMG) Future Industries explores NZ oil refinery repurposing

Motley Fool contributor Mitchell Lawler has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Telstra Corporation Ltd (ASX: TLS) share price struggled today as the telco comes to terms with a new court order.

Telstra is one of the country’s main enablers of people and households to connect to the internet.

Illegal streaming ban

Despite ‘illegal streaming’ already being illegal, there has been a further strengthening of rules against the activity.

According to reporting by The Australian, a group of television stations and movie businesses has won a ban against a large number of websites that are infringing, or facilitating the infringement, of copyright in large numbers of cinematograph films.

A wide array of sites has been banned and various telcos – around 50 – must enact this ban including Telstra, Optus and TPG Telecom Ltd (ASX: TPG) (which includes Vodafone).

Some of the media businesses that are seeking to defend their copyright, according to The Australian, are Roadshow Cinemas, Disney Enterprises, Paramount Pictures, Columbia Pictures, Universal Studios, Warner Bros, Netflix, Television Broadcasts and TVB.

Interestingly, there were no Australian media product companies part of the action to defend copyright. That means that was no representation from Seven West Media Ltd (ASX: SWM) or Nine Entertainment Co Holdings Ltd (ASX: NEC).

The new rules will mean that telecommunications companies block access to the IP address of loads of illegal streaming sites. They have a week to block access to the sites, though plenty of them have already taken action.

None of the streaming sites responded to requests to make an appearance or respond about the matter.

Justice ruling

The Australian reported that Justice Nicholas said:

I am satisfied that the applicants have made reasonable efforts to determine the identity and address of the persons who operate the relevant websites, and to give them notice of this proceeding and the orders sought.

The evidence satisfies me that each of the target online locations identified in the applicants’ proposed orders infringes or facilitates the infringement of the applicants’ copyright in various well-known cinematograph films.

The judge also decided to give companies the power to return to court if new websites are discovered under the same ‘brand’ as those blocked.

The Australian also reported that if streaming sites don’t respond then the court can wave through the banning without any oral hearing.

Telstra share price snapshot

Whilst the Telstra share price hasn’t moved much over the last month, it has gone up 15% in the past six months and 37% in 2021.

The post Telstra (ASX:TLS) share price struggles amid new court order appeared first on The Motley Fool Australia.

More reading

• These 3 ASX 200 shares are topping the volume charts on Wednesday
• 2 non-telco sectors that could prove pivotal to Telstra’s (ASX:TLS) growth
• Here are the 3 most heavily traded ASX 200 shares this Friday
• These 3 ASX 200 shares are topping the volume charts on Thursday
• Telstra (ASX:TLS) pays huge fine for putting Australians in danger

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns and has recommended Telstra Corporation Limited. The Motley Fool Australia has recommended TPG Telecom Limited. 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 ASX welcomed a new face this morning. The Atturra Limited (ASX: ATA) share price surged 23% following its initial public offering (IPO).

The company successfully raised $24.8 million through its IPO wherein it offered shares for 50 cents apiece. It floated at 10:30 am AEDT.

As of its first close on the exchange, the Atturra share price was trading at 61.5 cents.

Let’s take a closer look at the company and its ASX float.

But first, what does Atturra do?

Atturra is a technology services business.

It designs, implements, and maintains IT solutions for private and public entities. The company also offers consulting services.

It has a presence in Sydney, Melbourne, Brisbane, Canberra, Adelaide, Perth, New Zealand, and Singapore.

Atturra has targeted industries with high entry barriers. Among its clients, it counts local governments, federal government departments, the Department of Defence, universities, and super funds.

It also provides solutions to ASX giants Australia and New Zealand Banking Group Ltd (ASX: ANZ) and AusNet Services Ltd (ASX: AST).

Over the last 6 years, the company has undergone 5 acquisitions. By doing so, it’s boosted its ability to deliver TechnologyOne Ltd (ASX: TNE) services and better service its target industries.

Atturra share price surges on ASX float

Atturra’s prospectus saw it offering approximately 49.6 million shares for 50 cents apiece, raising around $24.8 million in the process.

The raised funds will go towards the company’s growth strategy which primarily involves acquisitions.

The company’s IPO offer price saw it with an expected undiluted market capitalisation of $100 million.

At its current share price, Atturra has an undiluted valuation of approximately $124 million.  

Speaking on the company’s IPO, Atturra CEO Stephen Kowal commented:

Today marks another major milestone in Atturra’s history as we look to capitalise on the large addressable market and considerable industry tailwinds in Australia’s IT services market…

Our goal is simple, we want to be one of Australia’s largest IT solutions providers with high engagement across industry, employees, and clients.

The post Atturra (ASX:ATA) share price surges 23% following IPO appeared first on The Motley Fool Australia.

More reading

• Own Fortescue Metals (ASX:FMG) shares? Here’s what to watch in 2022
• Telstra (ASX:TLS) share price struggles amid new court order
• Falcon Metals (ASX:FAL) share price nosedives 28% on IPO
• The AGL (ASX:AGL) share price is up 16% in a month. Here’s why:
• What’s the outlook for the Flight Centre (ASX:FLT) share price in 2022?

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. 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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