Allco (AFG) fell to a record share price low of 33 cents this morning after banks seized a substantial percent stake in the company late yesterday.
Shares in Allco Finance Group (AFG) rose by more than 20% today after the company announced it had been forced by margin calls it to sell most of its holdings in three Rubicon property trusts.
At least ABC learning put something substantial to the market in the form of a statement and suggestion of a possible deal in the offing.
Asset manager, Allco Finance Group (AFG) rose as much as 6% to $6.11 in early morning trade on Monday after the company said it had raised $200 million for its globally diversified transport and infrastructure fund ahead of schedule.
Australian Finance’s result beat the broker on profit, cash flow and dividend. Distribution growth sees the company increasing share.
Macquarie finds the valuation attractive and the outlook supported by the development of an SME loan platform and additional contribution from AFGHL’s higher profitability.