Monthly report - September 2017

Monthly wrap up

Share price performance and valuations

September’s best and worst performers:

  • Technology – Following the merger between Afterpay and Touchcorp, the newly formed Afterpay Touch’s share price has continued to perform well and traded up 14% in September following the announcement of several high-profile partnerships
  • Media – Out-of-Home advertisers APN Outdoor Group and oOh!media both traded up throughout September up 12% and 5%, respectively. Following the passage of media ownership reforms Southern Cross Media saw its share price fall 9% for the month
  • Telco and ICT – After issuing a statement disavowing a rumoured sale process, communications and IT service provider Speedcast International saw its share price close up 9% for the month. TPG Telecom saw its share price trade down 11% after the company lifted profits but warned of margin pressures as fixed line customers switch to NBN

M&A and investment activity

The market saw several transactions announced:

  • Webjet completed the acquisition of JacTravel from Vitruvian Partners for GBP190m
  • Wisetech announced the acquisitions of two leading global rate management solution providers Cargoguide and CargoSphere based in the Netherlands and the U.S., respectively
  • Softbank’s Vision Fund, the world’s largest private equity fund, has invested $1bn in Fanatics. Fanatics is a Florida-based online sports firm that handles the merchandise sales of all major U.S. based professional sports leagues
  • Deliveroo, the UK-based food delivery startup that brings high-end restaurant food to homes, has raised US$385m in a new funding round led by US firms T. Rowe Price and Fidelity
  • Fairfax announced its shareholders will vote on the proposed separation of Domain Holdings into a standalone ASX listed entity
  • Superloop continued its push into fixed wireless with the acquisition of Adelaide based NuSkope