Here’s why the National Tyre (ASX:NTD) share price is edging higher today

The company’s shares are set to finish the year in the green…
The post Here’s why the National Tyre (ASX:NTD) share price is edging higher today appeared first on The Motley Fool Australia. –

The National Tyre & Wheel Ltd (ASX: NTD) share price is moving into positive territory today. This comes after the company released its share purchase plan (SPP) offer booklet to investors just after market close yesterday.

At the time of writing, the tyre and wheel retailer’s shares are fetching for $1.43 apiece, up 1.42%. This means that its shares have now risen more than 15% in the past month alone.

Share purchase plan details

Investors are sending the National Tyre share price higher following the company’s invitation to retail shareholders to participate in its SPP.

Following the successful $9 million institutional placement, National Tyre has extended its offer to eligible shareholders.

Under the SPP, investors can apply to buy a parcel of National Tyre shares for $1.35 per share. The same terms offered in the placement represent a discount of 3% to the volume-weighted average price over 10 trading days from 16 December (when the capital raising was announced).

A minimum application amount of $500 and a maximum application amount of $30,000 can be applied for.

National Tyre is seeking to raise a total of $3 million through the SPP. However, this can be scaled back or increased in size depending on the total value of the applications.

The proceeds raised will be used towards funding a number of initiatives for the company. This includes funding further investment in its digital transformation strategy and working capital, as well as the non-trading indebtedness adjustments associated with the acquisition of Carter’s entities.

The closing date for the SPP will take place on 20 January. Allotment of the new shares is scheduled for 28 January, with trading available the following business day on 31 January 2022.

National Tyre share price snapshot

Over the course of the last 12 months, National Tyre shares have accelerated to post gains of 50%.

Based on today’s price, National Tyre commands a market capitalisation of around $172.33 million, with approximately 122.22 million shares outstanding.

The post Here’s why the National Tyre (ASX:NTD) share price is edging higher today appeared first on The Motley Fool Australia.

Should you invest $1,000 in National Tyre right now?

Before you consider National Tyre, 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 National Tyre 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

Why Bega Cheese, Magnis, Mesoblast, and Neometals shares are pushing higher

The Lynas (ASX:LYC) share price jumped out the blocks today. Here’s why

Broker tips Amcor (ASX:AMC) share price to shoot higher in 2022

Magnis (ASX:MNS) share price jumps 10% on ‘game-changing’ announcement

December has been pretty dire for the Woolworths (ASX:WOW) share price. Here’s why

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!