ATO releases YourSuper comparison tool smsfadviser.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from smsfadviser.com Daily Mail and Mail on Sunday newspapers.
Novatti raising $45m for acquisitions, including Reckon stake
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Payments technology company Novatti is tapping investors for $45 million, in part to fund the purchase of a 15 per cent stake in practice management software company Reckon.
Novatti has appointed Petra Capital as the sole lead manager and the raise will be comprised of three tranches - a $40 million institutional placement over two tranches and a share purchase plan for retail investors of up to $5 million.
Reckon shares jumped on Wednesday on news that Novatti was acquiring a significant stake.
Shares are on offer at 55¢ per share - a 14.1 per cent discount to Novatti’s last close price, and a 17.2 per cent discount to its five day volume-weighted average price.
A file photo of houses in Melbourne - AAP
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The amount of outstanding mortgages in Australia grew by the fastest monthly pace in four years.
But economists doubt financial regulators will be too concerned at this stage with investor loans still relatively subdued.
New figures from the Reserve Bank of Australia showed housing credit grew by 0.6 per cent in May, the largest rise since June 2017.
Annual growth now stands at 4.8 per cent, its highest since 2018.
Owner-occupier loans rose 0.7 per cent in the month to 6.6 per cent, also the highest year rate since 2018.
However, growth in loans to housing investors remained relatively modest, rising 0.4 per cent in May to 1.6 per cent.
Super trustees to expect further advice fee oversight by regulators moneymanagement.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from moneymanagement.com.au Daily Mail and Mail on Sunday newspapers.