Insights

Here’s why the Field Solutions (ASX:FSG) share price is roaring 9% today

The company’s shares are flying higher…
The post Here’s why the Field Solutions (ASX:FSG) share price is roaring 9% today appeared first on The Motley Fool Australia. –

The Field Solutions Holdings Ltd (ASX: FSG) share price is heading north after the company announced its completed capital raise.

During late-afternoon trade, the regional telco carrier’s shares are swapping hands for 18 cents a pop, up 9.09%.

Details of the share placement

Investors are buying up Field Solutions shares after the company released the latest results of its capital raising efforts.

In the release, Field Solutions advised it has received firm commitments to raise $20 million through an institutional placement. The offer was presented to institutional and professional investors at an issue price of 16.5 cents per share. This equates to approximately 121.2 million new ordinary shares being added to the company’s registry.

Field Solutions highlighted that it received applications totalling more than $40 million, reflecting strong interest from institutional and sophisticated investors.

The company said it would allocate the proceeds towards funding the company’s growth strategy and providing flexible opportunities when accelerating its network expansion.

Field Solutions will use its existing placement capacity to create the new shares. Under listing rule 7.1, this allows up to an additional 15% of its total shares to be issued without shareholder approval (78,472,768 shares). The company will use an extension to the listing rule (listing rule 7.1A) to issue the remaining shares with the additional 10% capacity (55,648,512 shares).

What did management say?

Field Solutions CEO Andrew Roberts said:

The additional funding will allow us to support working capital in the roll-out of our Regional Australia Network (RAN), covering 6 states and allow capability to extend further if opportunities arise to increase coverage and capability.

… To have outstanding support provided by significant cornerstone funds not previously invested, and further support from existing holders, this is a great boost to see such confidence in our vision to build a network for rural, regional and remote Australia.

Field Solutions share price review

Since listing in October, Field Solutions shares have accelerated to post a gain of more than 300%. The company’s share price is about 14% off its 52-week high of 21 cents reached last month.

Based on today’s price, Field Solutions presides a market capitalisation of roughly $100.1 million, with around 556.5 million shares on issue.

The post Here’s why the Field Solutions (ASX:FSG) share price is roaring 9% today appeared first on The Motley Fool Australia.

Should you invest $1,000 in Field Solutions right now?

Before you consider Field Solutions, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Field Solutions wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

More reading

Here’s why the Northern Star (ASX:NST) share price has lost 11% in 2 weeks
JB Hi-Fi (ASX:JBH) share price charges higher on broker upgrade
Why the Renergen (ASX:RLT) share price has charged higher today
Here are the top 10 ASX shares today

Top brokers name 3 ASX small cap shares to buy

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!