ASX 200 edges lower, Healius (ASX:HLS) soars

The ASX 200 (ASX: XJO) is currently down by 0.3% with ASX shares mixed.

Healius (ASX:HLS) soars on medical centre sale

The Healius share price is up almost 20% after the company announced a large asset sale and trading update.

Healius Primary Care, its medical centres business, will be sold to BGH Capital for $500 million on a cash and debt free business.

The sale proceeds of approximately $470 million will be used to strengthen the balance sheet and support growth in pathology and imaging, and over time the day hospital business. It will reduce the pro forma gearing ratio at 31 December 2019 from 2.7x to 1.5x.

Super Retail (ASX: SUL) trading update and capital raising

Super Retail announced a trading update and a capital raising.

Super Retail saw a 26.2% decline in group like for like (LFL) sales in April 2020 compared to April 2019. Trading in May rebounded with sales increasing by 26.5% compared to the prior corresponding period. Group sales growth has continued to benefit from the strong consumer environment in June.

Looking at the individual segments for the weeks 39 to 47 of the financial year, Supercheap Auto sales were up 3.7%, Rebel sales were down 2.3%, BCF sales were down 0.7% and Macpac sales were down 38.8%.

The gross margin was down in April and May, impacted by a shift to lower margin products and more online sales. Cost mitigation measures have been put in place to help.

The retail company has announced that it’s going to do an underwritten accelerated pro-rata non-renounceable capital raising to raise $203 million at $7.19 per share.

Management said the money will enable the company to keep executing its plan: grow the four core brands, leverage closeness to the consumer, have a connected omni-retail supply chain, simplify the business and have a COVID-19 efficient business.

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