Hexagon rises as it considers ALI biz spin-off
** Shares in Hexagon HEXAb.ST rise 6%, pairing gains after rising as much as 13.3%, after the Swedish industrial technology group said it mulls a spin-off of its Asset Lifecycle Intelligence (ALI) business
** The group said it was evaluating listing options for the new company in the U.S. and Sweden
** Stifel says this spin-off would simplify the strategy of both Hexagon and the new company and remove some complexity from the investment case
** Citi says that Hexagon has often been cited as collection of large set of assets which not necessarily bring synergies to all set. "In that context separation plan could be seen favourably," it adds
** Also on Friday Hexagon posted its quarterly results with Q3earnings below estimates
** The stock is on track for its best day since Dec 2023, if gains hold
Reporting by Jagoda Darlak
Related Assets
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
