Premarket London: Ocado Hits Paydirt in Japan
Investing.com — Here is a summary of regulatory news releases from the London Stock Exchange on Friday, 29th November. Please refresh for updates.
- Ocado (LON:) said it signed up a big new international customer for its Ocado Smart Platform technology.
- It’s agreed a strategic partnership with Aeon, Japan’s largest retailer, to develop the latter’s online grocery business in Japan. It intends to build a network of fulfilment and service centers with a sales capacity around 600 billion yen ($5.5 billion) by 2030, growing to approximately 1 trillion yen by 2035.
- Aeon will pay Ocado (LON:) certain upfront fees upon signing and during the development phase, then ongoing fees linked to both sales achieved and installed capacity within each new fulfilment center and service criteria.
- The company expects some 25 million pounds in additional operating costs and “minimal” additional capital spending next year as a result, with most of the associated capex coming in the 18 months leading up to the opening of each fulfilment center.
Estate agent Countrywide (LON:) said it had agreed to sell its commercial business Lambert Smith Hamption for 38 million pounds, a deal it said that will sharpen its focus on the core residential business and “materially” reduce its net debt.
- Investec (LON:) said it expects its common equity tier 1 ratio, a key measure of financial strength, to rise by around 1.3 percentage points to 12.0% as a result of spinning off its asset management division.
- The spin-off is expected to happen in March 2020, with the new company trading under the name of Ninety One on both the London and Johannesburg stock exchanges.
- Investec PLC shareholders will receive 55.9% of the total issued share capital of Ninety One PLC, while up to 8.3% will be placed with news investors in a secondary offering on the same day as the listing, with Investec pocketing the proceeds. Investec itself intends to retain some 15.8% of Ninety One.
Future PLC (LON:) said it had issued 686,497 shares to fund the acquisition of Barcroft Studios that it announced earlier this month. That represents some 0.7% of the expanded capital base.
IG Group (LON:) said it has reappointed PriceWaterhouseCoopers as its auditor.
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