Nov 21 (Reuters) - Australian conglomerate Wesfarmers Ltd's (WES) spin-off Coles Group (COL) began trading on Wednesday at A$12.49, giving it a market value of A$17.27 billion ($12.46 billion) that was above expectations.
The debut on the Australian bourse underlined confidence in the nation's No.2 supermarket chain even as it faces fierce competition in the supermarket sector, where a price war with arch rival Woolworths Group Ltd (WOW) is driving deflation, amid heightened online competition.
Without Coles, which was estimated to be worth about A$16 billion, a slimmed-down Wesfarmers would earn nearly 60 percent less revenue, but could generate about 50 percent more return on capital, according to research released by the company last month. ($1 = 1.3856 Australian dollars)
News: WOW Wesfarmers spin-off Coles makes solid trading debut, valued at $12.5 bln
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Last
$29.89 |
Change
0.010(0.03%) |
Mkt cap ! $43.04B | |||
| Open | High | Low | Value | Volume |
| $30.11 | $30.19 | $29.79 | $71.33M | 2.301M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 585 | $29.89 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $29.93 | 145 | 1 |
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| Last trade - 16.10pm 22/11/2024 (20 minute delay) ? |
| WOW (ASX) Chart |
