We’re glad you joined us because we’ve got today’s headlines from the S&P/ASX 200 (INDEXASX: XJO)(ASX: XJO) and Australian finance circles.
First, here are the data points:
Australian Dollar ($A) (AUDUSD): 72.87 US cents
Dow Jones (DJI): up 1%
Oil (WTI): $US70.77 per barrel
Gold: $US1,212 per ounce
Australian Finance News
Transurban Group (ASX: TCL), the owner of Australia’s most valuable toll roads, announced the successful completion of its share sale to retail/smaller investors. In an ASX announcement, Transurban said it successfully raised $1.22 billion by selling 113 million shares at $10.80 each. This forms the final part of its $4.2 billion capital raising.
In partnership with AustralianSuper (20.5%), CPPID (20.5%) and Tawreed Investments (9%), Transurban (50%) announced in August that it would acquire a 51% in the NSW Government’s WestConnex project.
Jeweler Michael Hill International Ltd (ASX: MHJ) announced the appointment of Speciality Fashion Group Ltd’s (ASX: SFH) current CEO Daniel Bracken as its CEO.
“We are grateful for the significant contribution Daniel has made to SFG over the past year,” Speciality Fashion’s Chair Anne McDonald said. “He has delivered a transformative transaction and overseen the separation and transition process post the divestment. We wish Daniel all the best in his new role as CEO of Michael Hill International Ltd.”
Bracken will join Michael Hill on November 15th, 2018. Michael Hill’s current CEO, Phil Taylor, has been diagnosed with a health issue and will retire to focus on his treatment and recovery.
“Phil has made an immense contribution to Michael Hill for over three decades,” Michael Hill Chair Emma Hill said. “Phil’s leadership during his period as CEO has been outstanding in what has been a period of recalibration and repositioning for the Company. Because of these changes, Michael Hill is a strong and resilient business today with a clear strategy and platform to deliver sustainable long-term growth. “
Finally, Amcor Limited (ASX: AMC) announced the appointment of Eric Roegner as the President of Amcor Rigid Plastics to begin in November. Amcor said Roegner has significant experience in large scale multi-regional businesses, having spent more than a decade in leadership positions at Alcoa.
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