The ASX 200 (ASX: XJO) has continued its ascent. It opened lower in early trading but now it’s rising towards the 6,200 level.
Here are some of the movers and shakers from the ASX so far:
Kogan.com (ASX: KGN) capital raising
Kogan.com isn’t actually moving at the moment because it’s in a trading halt to carry out a capital raising.
There will be a $100 million fully underwritten placement at an offer price of $11.45 per share. Kogan.com will then do a share purchase plan (SPP) for existing shareholders to raise up to $15 million.
The raised money will be used to provide financial flexibility to quickly act on future acquisition opportunities. Two of the previous investments that it has made have been Dick Smith and Matt Blatt.
Kogan.com said it is able to drive value from businesses with a strong brand by leveraging its existing systems, processes, supply chains and technology.
Harvey Norman’s (ASX: HVN) payday
The major retailer is going to reward its shareholders with cash during this difficult period. The company is going to pay a fully franked special dividend of 6 cents per share.
Harvey Norman also gave a sales update.
The retailer announced that in the second half of FY20 to 31 May 2020, Australian franchisee total sales are up 17.5%.
For its overseas company-operated stores, in the second half of FY20 to 31 May 2020, in Australian dollar terms, New Zealand sales were down 7.3%, Slovenia & Croatia sales were down 5.5%, Ireland sales were up 25.4%, Northern Ireland sales were down 38.2%, Singapore sales were down 21.7% and Malaysia sales were up 1.3%.
The Harvey Norman share price is currently up 5.3% at the time of writing.
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