Latest Financial Services News

Platinum Asia Investments Limited has taken a significant step forward in its proposed restructure, lodging a draft scheme booklet to facilitate shareholder exchange of shares for ETF units. The move aims to resolve the persistent discount to net tangible assets.

Platinum Investment Management reported significant net outflows of approximately $1.6 billion in May 2025, driving funds under management down to $8.34 billion from $9.65 billion the previous month.

S&P Dow Jones Indices has announced its June 2025 quarterly rebalance, with notable additions and removals across major S&P/ASX indices effective June 23. These changes reflect evolving market dynamics and could influence investor portfolios.

Genetic Technologies Limited has signed binding term sheets to acquire Ellerfield Wealth and Walker Capital, marking a strategic shift into wealth management backed by a $7.8 million valuation and pending ASX approvals.

Mirrabooka Investment Limited has successfully closed its $85 million entitlement offer, which was oversubscribed, prompting a scale back of Top-Up Facility applications.

Victor Group Holding Ltd has agreed to acquire a 15% stake in Australian fintech iRich Finance through a share issuance, aiming to enhance its platform and software services without altering its operational independence.

Queste Communications reported a $3 million inflow from an iron-ore royalty termination in May 2025, bolstering its cash reserves to over $4 million despite ongoing operating cash outflows.

Dominion Income Trust 1 (ASX, DN1) has successfully completed a $45.45 million placement, issuing new units at a slight discount to the last closing price. The capital raised will be invested in floating rate notes aligned with the Fund’s strategy.

Tyro Payments has announced the resignation of CEO Jon Davey, who will remain for up to six months to ensure a smooth leadership transition. Davey’s tenure saw significant transformation and strategic groundwork for future expansion.

Powerhouse Ventures Limited has issued its first-ever cash profit guidance for FY25, signalling a pivotal shift towards self-sustaining operations backed by strong corporate advisory and treasury performances.

Income Asset Management Group has posted a record revenue month in May 2025, driving strong quarter-to-date growth and expanding its funds under advice by 28% year-on-year.

QuickFee Limited has launched a A$1.5 million capital raising to fund expansion of its loan books in the US and Australia, following a quarter of record revenue and positive earnings before tax. The fintech also completed a major refinancing and revised its earnings guidance due to a credit impairment provision.