Here’s why the Pushpay (ASX:PPH) share price could surge higher today

The Pushpay Holdings Ltd (ASX:PPH) share price could push higher on Tuesday after naming a new cornerstone shareholder…
The post Here’s why the Pushpay (ASX:PPH) share price could surge higher today appeared first on The Motley Fool Australia. –

The Pushpay Holdings Ltd (ASX: PPH) share price will be one to watch this morning following the release of an announcement relating to a new cornerstone investor.

In early trade in New Zealand, the donation and engagement platform provider’s NZX-listed shares are trading 5% higher.

What did Pushpay announce?

This morning Pushpay revealed that the Huljich family has finally completed the selldown of its holding in the company.

According to the release, Christopher & Banks V Limited, the investment vehicle associated with Peter Huljich and Christopher Huljich, have sold 100% of their remaining shares in Pushpay to leading global investment firm Sixth Street.

In doing so, Pushpay understands that Sixth Street will become its largest shareholder, holding approximately 17.8% of its shares outstanding after the acquisition completes on 30 March 2021.

What is Sixth Street?

The release explains that Sixth Street is a global investment firm with over US$50 billion in assets under management and committed capital.

It was founded in 2009 and has more than 320 team members, including over 145 investment professionals operating from nine locations around the world.

Sixth Street has a long-term oriented and highly flexible capital base, allowing it to invest thematically across sectors, geographies, and asset classes.

Select current and past investments in growth companies include Airbnb, AirTrunk, AvidXchange, Gainsight, Kyriba, MDLIVE, Paycor, PaySimple, Spotify, and SumUp.


Pushpay’s Chairman, Graham Shaw, was delighted to have Sixth Street on board.

He said: “We are delighted to welcome Sixth Street as a cornerstone investor in Pushpay. As a highly experienced technology and growth investor with a core thematic focus on the convergence of software and payments, Sixth Street’s global scale and partnership-oriented investing approach brings considerable strength to Pushpay’s shareholder register.”

“On behalf of Pushpay, I would also like to sincerely thank Peter and Christopher Huljich for their invaluable contribution and commitment to the business over the past seven years. We are extremely grateful for their support and wish them all the best with their future endeavours.”

Where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

See The 5 Stocks

*Returns as of February 15th 2021

More reading

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of PUSHPAY FPO NZX. The Motley Fool Australia has recommended PUSHPAY FPO NZX. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Here’s why the Pushpay (ASX:PPH) share price could surge higher today appeared first on The Motley Fool Australia.

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!