Ausgroup: proposes secondary listing on the ASX, intends to establish an “ASX Listing Committee” by 30 Jun ’11. Move makes sense given that the bulk of its operations are Australia.
Technically, stock appears to have bottomed out at ~$0.32 in mid-Mar, around the time it placed out 64m shares (14% of new share base) at $0.306/sh to investment funds. Support at $0.40, resistance at $0.45 (200MA).
CIMB has a Neutral rating with $0.37 TP.
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