Here are the headlines from the S&P/ASX 200 (INDEXASX: XJO)(ASX: XJO) and Australian finance circles on Tuesday morning.
But first, here’s the need-to-know data points:
Australian Dollar ($A) (AUDUSD): 74.66 US cents
Dow Jones (DJI): up 1.3%
Oil (WTI): $US73.97 per barrel
Gold: $US1,259 per ounce
Australian Investing News
Making finance news down under, film and cinema business Village Roadshow Ltd (ASX: VRL) announced it will sell $51 million of shares to investors to reduce debt. Village Roadshow said the entitlement offer enables shareholders to buy 5 new shares for every 26 they currently own at an offer price of $1.65.
Together with the sale of the Wet’n’Wild theme park in Sydney to Parques Reunidos, Village Roadshow will have $87 million to reduce debt, the company said. Operating profit (EBITDA) for its 2018 financial year is expected to be between $88 million and $92 million.
Medical Developments International Limited (ASX: MVP), the company known for the ‘green whistle’ used by medical professionals, announced that Penthrox has been approved for sale in Italy and the Czech Republic. CEO John Sharman said, “We are delighted to have received the approval for these countries and we expect sales to commence in these markets during FY19.”
Aerial imagery business Nearmap Ltd (ASX: NEA) provided a trading update on its 2018 financial year revealing it ended June 30th with annualised contracted value of $66.2 million. “We are encouraged by these results and the progress we are making in building our subscription bases both in the US and Australia,” Nearmap CEO Rob Newman said.
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