Financial services company Euroz says it expects a small dip in half-year profits, with a strong contribution from its funds management operation offset by a significant reduction in corporate finance deals.
SPECIAL REPORT: There have been some big moves among corporate finance dealmakers in Perth, who worked on more than 850 transactions worth nearly $25 billion in 2017.
Finders Resources has received the backing of some high-profile Perth investors in its opposition to a hostile takeover offer, with Euroz's Tim Lyons, billionaire Ralph Sarich and Brettney Fogarty among a list of shareholders to have indicated they will not accept the 23-cents-a-share bid.
Local gold explorers Echo Resources and Kairos Minerals have raised a combined $22 million from investors to fund ongoing work at their respective projects in Western Australia.
SPECIAL REPORT: Western Australian businesses participated in nearly 200 corporate finance transactions in the September quarter collectively worth $4.8 billion, research by Business News has found.
Financial services business Euroz has flagged a surge in net profit for the 2017 financial year and an increased dividend payout, on the back of an improved performance by its broking arm.
Aspiring miner Heron Resources has tapped investors for about $240 million and says it is now fully funded to develop its Woodlawn zinc-copper project in NSW.
Swick Mining Services has raised about $5 million from investors to fund the buyout of minority shareholders in a mineral analysis and measurement technology company in which it already owns a major stake.
Shares in Zenith Energy were up 10 per cent to 55 cents after the remote generation operator listed on the ASX today, with the company planning to use the $25 million it raised to move into renewables and microgrid technology.
Junior explorler Azonto Petroleum has announced plans to farm-in to an oil and gas project in Canada through the acquisition of one of the project's joint venture partners, which is owned by Perth executive Alan Stein.
SPECIAL REPORT: Western Australian stockbrokers and companies raised nearly $1.1 billion in 104 transactions in the March quarter, with gold deals being a major driver of activity, according to new data compiled for the BNiQ Search Engine.
Six listed companies based in Perth have announced funding deals worth a combined $36.9 million, with the largest being a $20.6 million capital raising by gold explorer Orecorp.
Stockbroker and funds manager Euroz has beaten expectations for its interim profit result, which was achieved on the back of an improved performance of its Euroz Securities business and increase in the share prices of its listed investment companies.
SPECIAL REPORT: There was a big rise in the number and value of completed capital raisings in WA last year, according to data compiled in the BNiQ Search Engine.
Stockbroker and funds manager Euroz has foreshadowed a strongly improved interim profit, driven mainly by the performance of Euroz Securities and the increased share prices of its listed investment companies.
Two listed investment companies controlled by Euroz Securities will pay out nearly $5 million in half-year dividends, with Westoz Investment Company announcing a 3 cent per share payout for investors while Ozgrowth will distribute 0.25 cents per share.
DigitalX has re-energised its board with the appointment of a Perth-based CEO as the software company seeks to move forward from revelations earlier this year that its founder is facing charges in the US for fraud.
Aspiring miner Dacian Gold has launched a $150 million capital raising to fund a big portion of the development costs for its Mt Morgans gold project near Laverton, which is expected to begin operating by 2018.
Euroz has reported a bumper first-quarter profit of $9.75 million, driven by strong growth in capital raising deals and good performances by its funds management businesses.
SPECIAL REPORT: The stock market's appetite for new listings is allowing a range of companies, from family-owned engineering firm Veem to big national player Alinta Energy, to raise capital.
ASG Group's board has recommended its shareholders approve a takeover offer from a Japan-based consulting and IT services firm, which values the business at more than double that of a previous bid three years ago.
Engineering business VEEM is forecasting strong growth in revenue in the current financial year but a fall in profit, the family owned company has disclosed in the prospectus for its $25 million initial public offering.
Perth-based contractor NRW Holdings has rattled the tin for $20 million to reduce its debt levels and place the company in a better position to pursue future opportunities.
Drilling services company Imdex has tapped investors for $40 million, with plans to raise a further $5 million as it seeks to shore up its balance sheet.
Northern Star Resources has announced a major board restructure that includes the recruitment of two new directors and, in an unusual move that is at odds with corporate governance guidelines, the promotion of managing director Bill Beament to executive chairman.
Graphite hopeful Kibaran Resources has received firm commitments for a $10.9 million capital raising to fund development work at its Epanko project in Tanzania.
Heron Resources is the latest company to announce plans to spin-out its non-core assets into a new company, following similar recent movements by Metals X, TNG and Indiana Resources.
Gold and nickel miner Independence Group has announced a $280 million capital raising to bolster its balance sheet, making it the largest raising by a Western Australian company for 2016.
The Australian Securities Exchange has delayed the introduction of tougher listing requirements by three months, after stockbrokers and corporate advisers expressed concern about the changes.
Subiaco-based Australis Oil & Gas has held its ground on its ASX debut, following completion of a $30 million initial public offering earlier this month.
Two local gold hopefuls with interests in a Cambodian project have announced a merger, with Emerald Resources to buy Renaissance Minerals in a deal valued at about $40 million.
