Australia's Sigma Healthcare jumps in debut since Chemist Warehouse merger
13/02/2025 24:09
(Update with latest share moves, and Citi comments)
** Shares of pharmacy retailer Sigma Healthcare SIG.AX
rise 3.4% to A$2.860
** SIG trading for the first time since merger with
privately owned pharmacy giant Chemist Warehouse
** Combined entity valued at A$31.84 billion ($19.99
billion), as per the Australian stock exchange website
** Chemist Warehouse owns 85.8% of the merged company
** Last week, Sigma upgraded operating earnings outlook for
FY25
** Citi said earlier it sees "a very strong earnings growth
outlook over the next few years, driven by further domestic
market share gains and margin improvement"
** SIG stock has nearly quadrupled in value since the merger
was first announced on December 11, 2023
** Stock up 7.3% this year, including day's moves
($1 = 1.5929 Australian dollars)
(Reporting by Sameer Manekar and Jasmeen Ara Shaikh in
Bengaluru)
((Jasmeenaraislam.shaikh@thomsonreuters.com))