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The latest announcement is out from Cash Converters International Limited ( (AU:CCV) ).
Cash Converters International Limited has announced a $25 million equity raising initiative to fund the acquisition of 29 Australian franchise stores, known as the Cash Converters Investment Group, for $37 million. This acquisition is expected to be earnings accretive in the first year and will expand the company’s corporate store network significantly, enhancing its market presence in key Australian regions. The largest shareholder, EZCORP, supports this move, committing to a substantial portion of the equity raising, which underscores the strategic importance of this acquisition in line with Cash Converters’ growth strategy.
The most recent analyst rating on (AU:CCV) stock is a Buy with a A$0.50 price target. To see the full list of analyst forecasts on Cash Converters International Limited stock, see the AU:CCV Stock Forecast page.
More about Cash Converters International Limited
Cash Converters International Limited operates in the retail and financial services industry, primarily focusing on the acquisition and management of franchise stores. The company is known for its network of pawnshops and second-hand goods stores, with a market focus on expanding its corporate store network across Australia.
YTD Price Performance: 53.51%
Average Trading Volume: 787,742
Technical Sentiment Signal: Buy
Current Market Cap: A$219.6M
Find detailed analytics on CCV stock on TipRanks’ Stock Analysis page.