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Analysts split on Orica's recovery after bruising 2020


Analysts split on Orica’s recovery after bruising 2020
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Multinational explosives company Orica’s share price has dropped around 40 per cent since the bull market ended in March 2020, thanks to the one-two punch of COVID-19 curbing mining activity and Canberra’s souring diplomatic relations with Beijing hitting Australian coal exports.
These scars could be healing for miners that Orica sells explosives to, as Australian coal companies redirect to markets in India, Japan and South Korea. Plus, there’s the promise of the global vaccine roll-out making it safe for miners to ramp up activity.
Sanjeev Gandhi, Orica’s new chief executive, will provide a detailed update in November.  ....

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Stokes takes back seat as Seven Group raises $500 million


Stokes takes back seat as Seven Group raises $500 million
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Kerry Stokes’ Seven Group Holdings has launched a $500 million capital raising that will reduce the Stokes family’s grip on the company, help Seven pay down its debt and potentially fuel more acquisitions.
The diversified Seven Group Holdings, which owns a stake in Seven West Media as well as significant mining equipment interests, announced the raising on Monday morning. The offer is fully underwritten and is expected to be completed quickly.
Seven Group Holdings chairman Kerry Stokes. Stokes family interests currently own 42.5 per cent of the group but following the raising will hold 38.8 per cent. ....

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