IRESS Ltd
IRE: XASX (AUS)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
A$11.00 | Sfqkn | Dcdpyshr |
Corporate Action: IRESS Shareholders Should Apply for its Share Purchase Plan
We have maintained our fair value estimate for narrow-moat-rated IRESS at AUD 11.00 per share following its AUD 150 million institutional placement, and AUD 107 million all-cash takeover offer for OneVue Holdings (ASX: OVH) via a Scheme of Arrangement. The institutional placement has a negligible impact on our fair value estimate because it is small relative to IRESS’ equity value, and the AUD 10.42 placement price is close to our fair value.