Latest Financial Services News

Credit Corp Group maintains its FY25 NPAT guidance amid operational gains in US debt buying and cautious optimism in Australian/New Zealand lending markets.

NSX Limited has successfully closed a $1.13 million capital raising placement, issuing 45.2 million shares at 2.5 cents each, aligning with its prospectus targets. This move strengthens the company’s financial footing as it continues to develop its alternative stock exchange platform.

ARC Funds Limited has secured $1.4 million through equity and debt to complete a strategic acquisition of a majority stake in The Term Deposit Shop, expanding its footprint in Australia's term deposit market.

Pier 12 Capital Limited has requested suspension of its securities from the ASX, signaling an imminent delisting from the exchange. This move marks a significant shift for investors and the company’s future trading status.

AUB Group Limited has upgraded its FY25 underlying net profit guidance to the upper end of its previously announced range, buoyed by favourable trading conditions and strategic FX hedging.

Magellan Financial Group’s assets under management fell to A$38.5 billion in April, reflecting $1 billion in net outflows, even as it expanded its portfolio with a new Vinva fund.

HMC Capital has unveiled an ambitious plan to grow its assets under management to over $50 billion within the next 3-5 years, supported by strong fundraising and diversified investment verticals. The company’s FY25 outlook remains solid, underpinned by operational growth and strategic initiatives across real estate, digital infrastructure, and energy transition.

BlackRock Investment Management (Australia) Limited has announced an estimated cash distribution of 32.099015 cents per unit for its iShares Core Cash ETF (BILL), with key dates scheduled throughout May 2025.

Finexia Financial Group announces the resignation of Interim CEO Marc Duncan as the Board intensifies its review of credit operations and pursues ASX securities reinstatement.

Tyro Payments has stepped back from its proposed acquisition of Smartpay after the latter entered an exclusivity agreement with another bidder offering NZ$1.20 per share. This move halts Tyro's due diligence and merger plans, reshaping the competitive landscape in the payments sector.

Smartpay Holdings has entered an exclusivity agreement with an international strategic bidder offering NZ$1.20 per share in cash, advancing a potential full acquisition amid competing proposals.

Platinum Asset Management has entered preliminary talks with L1 Capital about a potential merger that would combine their funds under management to approximately A$18 billion. L1 Capital has also acquired a significant stake in Platinum, signaling serious intent in this strategic consolidation.