Latest Financial Services News

ASIC has imposed an interim stop order on the La Trobe Australian Credit Fund’s 12 Month Term Account due to alleged deficiencies in its Target Market Determination, pausing new investments while issues are addressed.

Resimac Group has successfully settled a A$1 billion non-conforming residential mortgage backed securities transaction, marking its second such bond issuance this year. The deal attracted strong domestic and offshore investor interest, reinforcing Resimac’s diversified funding strategy.

Challenger Limited has announced the Dividend Reinvestment Plan (DRP) issue price for its final 2025 dividend at $8.3615 per share, with a modest 2% participation rate leading to the issuance of approximately 266,000 new shares.

Prospech Limited’s PRSO securities have been suspended from trading pending compliance with ASX rules, raising questions about the company’s regulatory standing.

Smartpay Holdings Limited shareholders are set to vote on a proposed NZ$1.20 per share cash acquisition by Shift4 Holdings Limited, with the Board unanimously recommending the deal. The scheme offers a significant premium amid regulatory and competitive challenges.

Revolution Private Credit Income Trust has released comprehensive rules for its Distribution Reinvestment Plan, outlining how investors can reinvest distributions into additional units. The plan details eligibility, pricing, and operational procedures, setting the stage for potential shifts in investor participation and capital structure.

Sequoia Financial Group has announced the reinstatement of its on-market share buy-back program, aiming to repurchase up to 10% of its shares over the next year to boost shareholder value.

Smartpay Holdings has secured initial High Court orders for its Scheme of Arrangement with Shift4, marking a key procedural step toward the proposed acquisition. Shareholders will soon receive detailed information ahead of a crucial vote.

Shine Justice Ltd has announced a fresh on-market share buy-back of up to 10% of its issued capital, continuing its capital management strategy following a recent buy-back completion.

Shine Justice Ltd has announced an on-market buy-back of up to 10% of its ordinary shares, set to begin in October 2025 and run for a year. This move signals a strategic capital management initiative without requiring shareholder approval.

TT Investments has increased its takeover bid for 360 Capital Group securities to $0.31 per share, marking its best and final offer amid a firm hold on majority ownership.

Fat Prophets Global Contrarian Fund has successfully closed its Share Purchase Plan, raising nearly $1 million from existing shareholders. The capital injection will see over 740,000 new shares issued at a modest discount.