Arena Events Group plc has conditionally raised £20m via a placing, subject to shareholder approval, to facilitate making two material acquisitions, one in the West Coast USA and the other in the Middle East. Both acquisitions are expected to be earnings enhancing this year and in future years. We assess Arena to offer investors access to growth at an affordable valuation. We upgrade our forecasts and reiterate our Buy recommendation.
15 Aug 2018
Cenkos: Arena Events Group Plc - Successful Placing for Acquisitions
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Cenkos: Arena Events Group Plc - Successful Placing for Acquisitions
- Published:
15 Aug 2018 -
Author:
Cavendish Research -
Pages:
10
Arena Events Group plc has conditionally raised £20m via a placing, subject to shareholder approval, to facilitate making two material acquisitions, one in the West Coast USA and the other in the Middle East. Both acquisitions are expected to be earnings enhancing this year and in future years. We assess Arena to offer investors access to growth at an affordable valuation. We upgrade our forecasts and reiterate our Buy recommendation.