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Premier Investments Limited ( (AU:PMV) ) just unveiled an update.
Premier Investments Limited announced the issuance of 890.5 million new fully paid ordinary shares in Myer Holdings Limited as a result of the combination of its apparel brands with Myer. This transaction temporarily increases Premier’s stake in Myer to 67%, but the stake will become nil after the In-Specie Distribution, which is set to commence on February 6, 2025. The distribution process involves issuing shares to eligible shareholders and selling shares for ineligible shareholders, streamlining Premier’s interest in Myer and potentially impacting its market strategy and shareholder structure.
More about Premier Investments Limited
Premier Investments Limited operates primarily in the retail industry, focusing on apparel brands. The company is involved in strategic combinations with other market players, such as Myer Holdings Limited, to enhance its market presence and leverage synergies in the fashion retail sector.
YTD Price Performance: -10.92%
Average Trading Volume: 281,533
Technical Sentiment Consensus Rating: Sell
Current Market Cap: A$4.57B
Learn more about PMV stock on TipRanks’ Stock Analysis page.
