Business by Alister Thomson
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Subscriber only SHARES in Gold Coast theme parks owner Village Roadshow will be suspended from trading by the end of the day following Federal Court approval for its takeover by BGH Capital. The move caps off a rollercoaster ride for shareholders that started in December last year when private equity house Pacific Equity Partners put forward a proposal to buy the Movie World owner for $3.90 a share. BGH chipped in with its own offer of $4 per share in January - valuing Village at $780 million - but that was later slashed to just $2.20 to $2.40 a share due to the forced shutdown of the parks in March due to the coronavirus.
Last week the
S&P/ASX 200 Index (ASX: XJO) fought hard and was able to extend its winning streak to six consecutive weeks. The benchmark index rose 0.1% to finish the period at 6,642.6 points.
While a number of shares climbed higher with the market, some recorded stronger gains than others.
Here’s why these were the best performers on the ASX 200 over the period:
The IGO share price was the best performer on the index last week with a 24.2% gain. Investors were buying this nickel producer’s shares after it completed its institutional placement and entitlement offer. IGO raised a total of $707 million at a 9.7% discount of $4.60 in order to expand into the lithium market. The company has signed an agreement to acquire a 49% stake in Tianqi Lithium Energy Australia from China-listed Tianqi Lithium Corporation.