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It was a tough five days for the S&P/ASX 200 Index (ASX: XJO) last week. This led to the benchmark index losing 0.7% of its value over the period to finish at 7,304 points.

While a good number of shares tumbled with the market, some fell more than most. Here’s why they were the worst performers on the index last week:

Mesoblast Limited (ASX: MSB)

The Mesoblast share price was the worst performer on the ASX 200 last week with a massive 21.7% decline. Investors were selling off the allogeneic cellular medicines developer’s shares after Novartis terminated an agreement that could have been worth ~US$1.2 billion. The two parties were looking at Mesoblasts’ remestemcel-L as a treatment for acute respiratory distress syndrome (ARDS) due to COVID-19. Novartis bailed after some disappointing trial results.

Zip Co Ltd (ASX: Z1P)

The Zip share price was a very poor performer and sank 15.6% lower during the five days. This was driven by weakness in the tech sector and concerns over news that US authorities have launched an investigation into the BNPL sector. The US Consumer Financial Protection Bureau is looking to see if BNPL players need to be better regulated and if US consumers are adequately protected.

Pointsbet Holdings Ltd (ASX: PBH)

The PointsBet share price was out of form and dropped 14.2% last week. This appears to have been caused by weakness in the tech sector and particularly in the sports betting market. For example, for the five trading sessions ending Thursday night, US rival Draftkings saw its shares sink 15%. Positively for PointsBet, Draftkings had a strong night on Friday, which could bode well for its shares on Monday.

Afterpay Ltd (ASX: APT)

The Afterpay share price wasn’t far behind with a 13.8% decline after the Square share price tumbled lower. As Afterpay is being acquired by Square in an all-scrip deal, its shares rise and fall with the Square share price. Last week the aforementioned news of an investigation into the US BNPL sector put pressure on Square’s shares.

The post These were the worst performers on the ASX 200 last week appeared first on The Motley Fool Australia.

More reading

• These were the best performing ASX 200 shares last week
• Here are the top 10 ASX shares today
• Why Afterpay, Corporate Travel, Dubber, and EML shares are falling
• Here are the 3 most heavily traded ASX 200 shares this Friday
• Latitude (ASX:LFS) boss warns many ASX BNPL companies “will go out of business”

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 AFTERPAY T FPO, Pointsbet Holdings Ltd, and ZIPCOLTD FPO. The Motley Fool Australia owns and has recommended AFTERPAY T FPO. The Motley Fool Australia has recommended Pointsbet Holdings Ltd. 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 S&P/ASX 200 Index (ASX: XJO) was out of form last week and tumbled lower. The benchmark index lost 0.7% of its value over the five days to end at 7,304 points.

Four ASX 200 shares that didn’t let that hold them back are listed below. Here’s why they were the best performers on the index last week:

Nanosonics Ltd (ASX: NAN)

The Nanosonics share price was the best performer on the ASX 200 last week with a gain of 11.7%. This was despite there being no news out of the infection prevention company. This latest gain means the Nanosonics share price is now up an impressive 22% since the start of December. One broker that still thinks its shares can go higher is Morgans. It currently has an add rating and $6.97 price target on them.

WiseTech Global Ltd (ASX: WTC)

The WiseTech share price wasn’t far behind with a 10.3% gain. Once again, this was despite there being no news out of the logistics solutions company. Though, with the company’s CEO continuing to sell down his holding last week, investors could be taking this as a positive signal. The theory being that if WiseTech was not at least performing in line with guidance, he wouldn’t be able to sell shares. WiseTech is forecasting strong sales and operating earnings growth in FY 2022.

Charter Hall Group (ASX: CHC)

The Charter Hall share price was on form last week and charged 9.5% higher. Investors were buying this property company’s shares following the release of a strong update on Monday. That update saw Charter Hall upgrade its guidance for FY 2022 a second time. This went down well with the team at Macquarie. In response, the broker retained its outperform rating and lifted its price target on the company’s shares to $22.90.

Omni Bridgeway Ltd (ASX: OBL)

The Omni Bridgeway share price was a solid performer and rose 9.4% over the period. Last week the class action funder announced the completion of two investments, with expected income generation of approximately $18 million. In addition to this, Goldman Sachs recently reiterated its conviction buy rating and lofty $5.35 price target.

The post These were the best performing ASX 200 shares last week appeared first on The Motley Fool Australia.

More reading

• Here are the top 10 ASX shares today
• Here are the 3 most heavily traded ASX 200 shares this Friday
• BNPL whacked! Why the Afterpay (ASX:APT) share price is down 7% to a new 52-week low today
• ASX 200 (ASX:XJO) midday update: BNPL shares sold off, Corporate Travel returns
• 5 things to watch on the ASX 200 on 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. owns and has recommended Nanosonics Limited and WiseTech Global. The Motley Fool Australia owns and has recommended Nanosonics Limited and WiseTech Global. 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 CSL Limited (ASX: CSL) share price has dived about 12% since the start of December. On Friday, the global biotech’s shares finished the session down 0.33% to $272.10 apiece.

What’s weighing down CSL shares?

A few factors have had a negative impact on the CSL share price, prompting investors to hit the sell button.

Firstly, the rapid spread of the COVID-19 omicron variant has spooked the market since its discovery on 24 November. The S&P/ASX 200 Index (ASX: XJO) sunk to a low of 7,168 points on 2 December, before slightly recovering. On Friday, the benchmark index finished trading at 7,304 points, up 0.1% for the day.

One of the main challenges CSL has faced during the pandemic is a reduction in its plasma collections due to lockdowns. Australia is currently facing a surge in COVID-19 cases, particularly in New South Wales and Victoria.

In addition, the company announced an institutional placement this week to raise $6.3 billion to purchase Vifor Pharma. To put this in perspective, this is Australia’s second largest equity raise, behind Telstra Corporation Ltd (ASX: TLS). It’s also the world’s seventh-largest equity raise for 2021.

The placement price of $273.00 per share would see about 23.1 million new CSL shares brought onto the company’s registry. CSL also revealed it would launch a $750 million share purchase plan, offering the same terms to retail investors.

When CSL shares came out of a trading halt on Thursday, investors dumped them and the share price fell by 8.16%. This was the company’s biggest one-day decline since the beginning of the pandemic in March 2020.

With more shares being added to the company’s books, this will inevitably dilute shareholder value. 

The CSL share price could be an attractive buy for the medium-term. Analysts at Morgans raised their price target by 3.2% to $334.70 on Thursday. Based on CSL’s last closing price, this represents an upside of 23%.

CSL share price summary

Over the course of the past 12 months, CSL shares have taken investors on a rollercoaster ride, down 5.5%. Over the year, the shares have traded between $242 and $319.78.

On valuation grounds, CSL is the second largest company on the ASX with a market capitalisation of roughly $124.44 billion.

The post Why is the CSL (ASX:CSL) share price struggling in December? appeared first on The Motley Fool Australia.

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• Brokers name 3 ASX shares to buy today
• Why Chorus, CSL, Qantas, and Sims shares are dropping
• ASX 200 (ASX:XJO) midday update: CSL sinks, Qantas’ $1.1bn+ first half loss
• CSL (ASX:CSL) share price down 8% after raising US$4.5bn
• 5 things to watch on the ASX 200 on Thursday

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended CSL Ltd. 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 searching for some new blue chip shares to add to your portfolio, then the two listed below could be worthy candidates.

These blue chip ASX 200 shares have strong business models and positive growth outlooks.

Even better, though, is that they have recently been named as buys by analysts:

Goodman Group (ASX: GMG)

The first blue chip ASX 200 share to look at is this integrated commercial and industrial property company.

Goodman could be a top option due to its world class portfolio, which comprises warehouses, data centres, large scale logistics facilities, and business and office parks.

Demand for its properties has been very strong, leading to sky high occupancy rates and stellar earnings growth over the last decade. This is being driven by its strategy of developing modern, high quality properties in key gateway cities around the world.

Morgan Stanley is a fan of the company. It currently has an overweight rating and $26.50 price target on Goodman’s shares.

Healius Ltd (ASX: HLS)

Another blue chip ASX 200 share to look at is Healius. It is one of Australia’s largest pathology and diagnostic imaging providers offering services via a number of brands. These include Dorevitch Pathology, QML Pathology, Laverty Pathology, and Healthcare Imaging Services.

It also just added to this last week with the acquisition of Agilex for an enterprise value of $301.3 million. Agilex is one of Australia’s leading bioanalytical laboratories.

This acquisition is expected to be accretive to the company’s earnings, which have already been growing strongly in FY 2022.

For example, for the first quarter of FY 2022, Healius reported a 43.7% increase in group quarterly revenue over the prior corresponding period to $689.9 million. This was driven by strong demand for COVID testing and a robust performance from the rest of the business.

Macquarie is bullish on Healius. It currently has an outperform rating and $5.65 price target on the company’s shares.

The post 2 fantastic blue chip ASX 200 shares to buy next week appeared first on The Motley Fool Australia.

More reading

• ASX 200 (ASX:XJO) midday update: BNPL shares sold off, Corporate Travel returns
• Healius (ASX:HLS) share price falls despite $300m acquisition
• Own the Vanguard Australian Property ETF (ASX:VAP)? Here’s what you’re invested in
• 2 highly rated ASX 200 shares to buy
• 2 market-leading ASX shares rated as strong buys by brokers

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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The fund manager Wilson Asset Management (WAM) has recently identified two top small cap shares that it owns in its portfolio that could be ideas.

WAM operates several listed investment companies (LICs). Some focus on larger companies like WAM Leaders Ltd (ASX: WLE) and WAM Capital Limited (ASX: WAM).

There’s also one called WAM Microcap Limited (ASX: WMI) which targets small cap ASX shares with a market capitalisation under $300 million at the time of acquisition.

WAM says WAM Microcap targets the most exciting undervalued growth opportunities in the Australian microcap market.

The WAM Microcap portfolio has delivered gross returns (that’s before fees, expenses and taxes) of 25.2% per annum since inception in June 2017, which is superior to the S&P/ASX Small Ordinaries Accumulation Index average return of 11.9%.

These are the two small cap shares that WAM outlined in its most recent monthly update:

Sovereign Cloud Holdings Ltd (ASX: SOV)

WAM describes Sovereign Cloud as an Australia infrastructure as a service (IaaS) provider that is focused on Australian government, defence, intelligence and critical national industry communities.

The fund manager noted that on 22 November 2021, Nextdc Ltd (ASX: NXT) bought an almost 20% stake of the business. Nextdc is a major Australian provider of premium data centre facilities.

According to WAM, this will provide Sovereign Cloud with access to a national network of over 1,500 enterprise customers and more than 730 channel partners.

Proceeds from the equity raising will be used by the small cap share to expand the small cap ASX share’s operations and facilitate a move into the enterprise space, including investing in new cloud platforms in Brisbane, Melbourne and Adelaide.

The fund manager noted that Sovereign Cloud continues to see strong demand as it expands nationally, and as more businesses accelerate the transition to the cloud.

Iris Energy Ltd (NASDAQ: IREN)

This is not the typical ASX share investment that WAM Microcap makes, as it isn’t actually on the Australian Stock Exchange.

Iris Energy is an Australian company that builds, owns and operates data centres and electrical infrastructure powered by renewable energy to sustainably mine Bitcoin, according to WAM.

In November, the small cap share completed a US$232 million initial public offering (IPO) and listed on the NASDAQ. The company plans to use the proceeds from the offering to fund its growth plans, such as the development of data centres across Canada, the US and Asia Pacific, as well as purchasing Bitcoin miners.

The post Wilson Asset Management believes these 2 leading small cap shares are a buy appeared first on The Motley Fool Australia.

More reading

• 3 ASX 200 shares with major upside potential in 2022
• Top brokers name 3 ASX shares to buy today
• Analysts rate these ASX 200 shares as buys
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• Own WAM Microcap (ASX:WMI) shares? Here’s what you’re invested in

Motley Fool contributor Tristan Harrison owns WAM MICRO FPO. 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 WAM Capital Limited (ASX: WAM) share price hasn’t had the best year in 2021 to date. Since the start of the year, WAM Capital shares have gone backwards by roughly 0.22%.

Of course, there has been WAM Capital’s generous dividend to help ease the pain. WAM shares have paid out 15.5 cents per share in dividends this year. That would have added a good 7% or so to those returns (plus some with franking). But even so, that doesn’t take away from the fact that the S&P/ASX 200 Index (ASX: XJO) has eaten WAM Capital’s lunch, seeing as the index itself has gained more than 9.8% (plus dividends) in 2021 thus far.

WAM Capital is one of the largest Listed Investment Companies (LICs) on the ASX. As a LIC, it is a company that invests in other ASX shares for the benefit of its own shareholders.

So if you hold WAM Capital shares, what should you look out for in 2022?

This ain’t WAM’s last Christmas…

Well, to start with, here’s some of what WAM Capital founder and chair Geoff Wilson said on the company’s plans for FY2022 during WAM Capital’s annual general meeting last month:

In FY2022, we have positioned [WAM’s] portfolio into companies that can generate strong top line organic growth irrespective of the economic outlook. We are positive on the medium-term economic and earnings outlooks, despite the headwinds of new coronavirus variants. Our long-standing methodology of investing in undervalued growth companies with a clear catalyst for a share price rerating, remains the central tenet of our process.

Currently (well, as of 30 November), some of WAM Capital’s top holdings included Life360 Inc (ASX: 360), Pushpay Holdings Ltd (ASX: PPH), Aristocrat Leisure Limited (ASX: ALL), Brickworks Limited (ASX: BKW), Breville Group Ltd (ASX: BRG) and ARB Corporation Limited (ASX: ARB).

But WAM Capital has recently been venturing into new territory as a LIC. Rather than just holding positions in individual shares, WAM Capital has stepped up its game over the past year or two. Over FY2021, WAM bought out the Concentrated Leaders Fund (ASX: CLF). As well as the Contango Income Generator Limited (ASX: CIE) and Amaysim Australia (ASX: AYS). It is also presently in the process of attempting to purchase the PM Capital Asian Opportunities Fund Ltd (ASX: PAF). Although, this is now caught up in what is arguably an increasingly messy bidding war.

So it seems that as WAM Capital’s size has grown (it’s now worth more than $2 billion), so too has its investing horizons. Perhaps investors can expect additional complete fund and company takeovers going into the 2022 calendar year.

 

The post Invested in WAM Capital (ASX:WAM) shares? Here’s what to watch in 2022 appeared first on The Motley Fool Australia.

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• WAM (ASX:WAM) share price higher on PM Capital fund takeover news
• You want an ASX share to hold for 4 years? Here are 2!
• Own WAM Capital (ASX:WAM) shares? Here’s what the company has planned for 2022

Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Brickworks, Life360, Inc., and PUSHPAY FPO NZX. The Motley Fool Australia owns and has recommended Brickworks and PUSHPAY FPO NZX. The Motley Fool Australia has recommended ARB 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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There are a lot of quality options for investors to choose from on the Australian share market. Two that analysts are particularly positive on are listed below.

Here’s why analysts rate these ASX shares as buys:

Rio Tinto Limited (ASX: RIO)

The first highly rated ASX share for investors to look at this month is this mining giant.

It could be a top option due to its attractive valuation, production growth outlook, its exposure to aluminium, and strong free cash flow generation. The latter is expected to underpin a double digit dividend yield in FY 2022 according to the team at Goldman Sachs.

It is partly for this reason that the broker currently has a buy rating and $121.00 price target on its shares.

Goldman is also very positive on its aluminium business. It commented: “In addition to copper production growth, Rio has one of the highest margin, lowest carbon emission aluminium businesses in the world, with over 2.2Mt of Ali production powered by hydro, and we think ELYSIS inert anode technology could be worth billions of $.”

Webjet Limited (ASX: WEB)

Another ASX share that is highly rated right now is this online travel agent. Especially given recent weakness in the Webjet share price, which leaves it trading far closer to its 52-week low than its 52-week high.

The team at Morgans is very positive on the company’s outlook in a post-COVID world. This is thanks to its cost reductions and bold market share targets. The broker recently upgraded Webjet’s shares to an add rating with a $6.60 price target.

Morgans commented: “WEB is targeting to return to pre-COVID booking levels in the 2H23.Management continues to maintain its aspirational market share targets and wants to reduce the company’s cost base by 20% when it returns to scale. This means that WEB should be materially more profitable post COVID.”

The post Analysts say these ASX shares are buys appeared first on The Motley Fool Australia.

More reading

• Rio Tinto (ASX:RIO) share price lifts despite lithium project plans suspended following protests
• How might the Webjet (ASX:WEB) share price perform in 2022?
• 2 buy-rated ASX travel shares that could take off
• Rio Tinto (ASX:RIO) share price climbs amid $3.2 billion Mongolia ‘reset’
• 2 ASX shares with big dividend yields rated as buys

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 recommended Webjet Ltd. 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 interested in small cap ASX shares? If you are, then you may want to look at the ones listed below.

Both these small cap ASX shares have been given buy ratings and are tipped for big things in the future. Here’s why they should be on your watchlist:

Adore Beauty Group Limited (ASX: ABY)

The first small cap to watch is Adore Beauty. It operates a beauty-focused integrated content, marketing, and ecommerce platform that partners with a broad and diverse portfolio of brands and products.

This strategy has worked wonders and led to Adore Beauty’s active customers growing strongly to almost 1 million, which is underpinning strong sales growth.

Pleasingly, while this is a large number, it is still only a small portion of an Australian beauty market worth $11 billion a year at present. This gives Adore Beauty a long runway for growth over the next decade.

UBS is a fan of the company. It currently has a buy rating and $6.00 price target on its shares.

BlueBet Holdings Ltd (ASX: BBT)

Another small cap ASX share to watch carefully is this mobile-first online wagering provider.

BlueBet allows users to bet on all Australian and international racing and sports through its website and app. Thanks to the increasing popularity of mobile sports betting, its sales and customer numbers have been growing strongly in recent years.

Pleasingly, though, BlueBet is still scratching at the surface of a huge market opportunity in both Australia and the United States. And while the latter market will not be easy to crack, BlueBet is forming partnerships with industry players in an attempt to gain access.

The team at Morgans is very positive on BlueBet. The broker currently has add rating and lofty $2.60 price target on its shares.

Morgans recently commented: “We remain attracted to BBT’s opportunity to increase its Australian market share (currently just ~1.2%) and significant, long-term growth potential from its US market entry.”

The post 2 quick-growing small cap ASX shares to watch appeared first on The Motley Fool Australia.

More reading

• 3 compelling reasons the Adore Beauty (ASX:ABY) share price could be a top buy
• 3 hot ASX tech shares to buy in 2022
• Are these 2 ASX tech shares good buys in December?
• 2 small cap ASX shares to get excited about
• Is the BlueBet (ASX:BBT) share price a serious bargain after losing 23% in a month? Here’s what Motley Fool analyst Trevor Muchedzi says

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 recommended Adore Beauty Group Limited. The Motley Fool Australia has recommended Adore Beauty Group Limited and BlueBet Holdings Ltd. 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 finished in the green today after the company announced it had settled a dispute.

At the close of trade, Cimic shares were swapping hands for $18.33, up 2.23%.

Cimic is a major construction, mining and services company with subsidiaries including CPB Contractors.

What was the update?

In today’s release, Cimic advised it has reached a commercial settlement on the West Gate Tunnel project in Melbourne. The tunnel is being constructed by CPB Contractors in a joint venture with John Holland.

Under the terms of the settlement, the Victorian state government will provide $1.9 billion while Transurban will contribute $2 billion to ensure the tunnel is built by late 2025.

However, the profit margin from the project will now be forgone and Cimic will see a reduction in revenue of $300 million. John Holland will also let go of $300 million of revenue.

Despite the revised revenue outlook, investors appeared to react positively to the news.

The settlement means tunnelling on the project will now be able to start early next year. Also, it resolves what the company described as a long-standing legacy issue that has taken up a lot of management’s time.

Furthermore, Cimic noted it would be able to offset the financial hit with existing provisions and additional non-recurring gains. The company expects to report a net profit after tax (NPAT) of $400-$430 million for the 2021 financial year.

In a statement signed by the Cimic board, the company said:

Cimic is pleased to have achieved this settlement, avoiding further potential legal and other costs, while being able to maintain guidance.

Settlement of West Gate also allows tunnelling to commence to the benefit of the project parties and, ultimately, the people of Victoria who will gain from this infrastructure.

Cimic share price snap shot

Cimic shares have been in the red in the past 12 months, plummeting almost 29%. Year to date, the company’s shares are down 26%.

In contrast, the S&P/ASX 200 Index (ASX: XJO) has returned more than 8% to investors in the past year.

The company commands a market capitalisation of roughly $5.7 billion based on the current share price.

The post Here’s why the Cimic (ASX:CIM) share price popped today appeared first on The Motley Fool Australia.

More reading

• And just like that, Oil Search (ASX:OSH) shares are no more
• How might the Polynovo (ASX:PNV) share price perform in 2022?
• 3 ASX 200 shares with major upside potential in 2022
• Here are the top 10 ASX shares today
• Why Alkane, De Grey, Nufarm, and St Barbara shares are pushing higher

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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It’s likely a bittersweet end to the week for former owners of Oil Search Ltd (ASX: OSH) shares as the company officially becomes history.

Oil Search’s merger with Santos Ltd (ASX: STO) has now been implemented, with Santos acquiring all of Oil Search’s stock.

As of Friday’s close, the Santos share price is $6.45.

Meanwhile, the Oil Search share price remains at its final resting place of $4.04, as it has been since it stopped trading on Monday.

Let’s take a look back at Oil Search’s time on the ASX and its now completed merger with Santos.

Oil Search’s highs and lows

Oil Search was established in 1929. It first earned its place in the S&P/ASX 50 Index (ASX: XFL) in 2008.

The company’s former CEO, Peter Botten, was awarded the title of the longest serving CEO of an ASX company in 2019, after serving 25 years at the helm. Botten retired from the company in 2020.

Oil Search’s stock faced one of its worst days in March 2020, when the price of oil plummeted from underneath it.

Conversely, one of the company’s best days on the market came in 2015 when, interestingly, Woodside Petroleum Limited (ASX: WPL) made a $12 billion takeover bid.

Interested readers can find a handy booklet on the company’s history, created for its 90^th birthday, here.

However, all good things must end.

Oil Search is officially no more

On Monday, the ASX will open without Oil Search. Instead, new Santos shares issued to former Oil Search shareholders will begin trading on a normal settlement basis.

The final takeover deal saw Oil Search shareholders receiving 0.6275 Santos shares for each Oil Search security owned.

As of today, all Oil Search directors have resigned. Dr Eileen Doyle and Mr Musje Werror joined the Santos board today.

Mr Michael Utsler will also join the board after Santos’ 2022 Annual General Meeting.

And just like that, the ASX is home to one less oil and gas giant.

The post And just like that, Oil Search (ASX:OSH) shares are no more appeared first on The Motley Fool Australia.

More reading

• 5 things to watch on the ASX 200 on Friday
• 5 things to watch on the ASX 200 on Thursday
• Here’s what’s boosting the Santos (ASX:STO) share price today
• What ASX 200 energy shareholders should know about the Permian Basin 2022
• Leading brokers name 3 ASX shares to buy today

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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