An update from Aspen Group Limited ( (AU:APZ) ) is now available.
Aspen Group Limited has announced its acquisition of a new accommodation complex in Australind, Western Australia, initially developed for Albemarle Corporation’s Kemerton Lithium Plant expansion. This strategic move aims to reposition the property into a residential rental and lifestyle community, addressing the acute shortage of affordable housing in the Bunbury area. The acquisition is expected to increase Aspen’s scale by 16% and improve its profitability and equity value over the medium term, although it will initially be neutral to underlying earnings per security. The purchase, priced at $32.25 million, is expected to be debt-funded, increasing the company’s gearing ratio.
More about Aspen Group Limited
Aspen Group Limited operates in the real estate industry, focusing on providing affordable accommodation solutions. The company specializes in residential rental and lifestyle communities, catering to a market with acute shortages of affordable housing options.
YTD Price Performance: 10.42%
Average Trading Volume: 261
Technical Sentiment Signal: Sell
Current Market Cap: €323.2M
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