Why is the WAM Capital (ASX:WAM) share price on the rise?
Bernd Struben | February 19, 2021 11:27am |
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At the time of writing, the WAM Capital share price has lifted 0.49% to $4.07.
What did the company report?
The Wam Capital share price is in the green today after the asset manager reported an operating profit before tax of $233.4 million. That’s up 144.1% year on year. Operating profit after tax of $166.5 million increased 136.6% from the first half of the 2020 financial year. The company credited the strong performance of its investment portfolio for the results.
WAM Capital said its investment portfolio gained 22.8% during the half year. That’s a 7.1% outperformance over the
Amaysim has told shareholders that the prospective buyer of its post-Optus sale assets has increased its offer ahead of the scheduled shareholder vote.
Investment firm WAM Capital has increased its offer from $0.695 per share in cash or one WAM share for every 2.7 Amaysim shares in scrip, to $0.70 per share or one WAM share to 2.675 Amaysim shares, respectively. The offer can also be a combination of scrip and cash.
Amaysim said its board unanimously recommended that shareholders vote in favour of the offer, with confirmation from major shareholders for their support.
With the deal, WAM Capital is acquiring Amaysim’s remaining underlying businesses and operations following the sale of the mobile business to Optus, which was announced in November 2020.