Hot Stocks: Johns Lyng, Cromwell Property Group, Ventia

Hot Stocks: Johns Lyng, Cromwell Property Group, Ventia

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The Australian sharemarket dipped slightly this week, down from 8,603.00 last Friday, but remains up 9.6% year-on-year. The Reserve Bank surprised markets on Tuesday by holding the cash rate at 3.85%, defying expectations of a cut. The Australian dollar traded steadily around 65 US cents, reflecting cautious optimism amid balanced domestic and global signals.
In the US, equities pushed higher, with the S&P 500 and Nasdaq hitting fresh record closes. Nvidia briefly topped a US$4 trillion market cap after rising 0.8% on Thursday to US$164.10. Markets turned volatile midweek after President Trump confirmed new tariffs starting August 1, including a 50% duty on copper imports, sending prices sharply higher. His proposal for a 200% tariff on pharmaceuticals rattled the healthcare sector, prompting CSL to call for more targeted measures to protect global medicine supply chains.
In Friday’s company news:
PEP-backed Sherwood BidCo to acquire JLG for $4.00 per share
Johns Lyng (ASX:JLG) has entered into a Scheme Implementation Deed with Sherwood BidCo (a Pacific Equity Partners vehicle), under which all shares will be acquired for $4.00 each, valuing the company at approximately $1.1bn equity value and $1.3bn EV. The deal implies a 77% premium to the share price before the offer and has unanimous support from JLG’s Independent Board Committee. Major shareholder and CEO Scott Didier (17.6% stake) has entered a Co-Operation Deed and will elect to take scrip consideration. The deal is subject to shareholder, court, and regulatory approvals, with implementation expected in November.
Cromwell unveils major ACT development and refinances debt
Cromwell Property Group (ASX:CMW) has secured a 15-year lease with a Commonwealth Government entity for a new 19,800 sqm, 6-star rated office development in Barton, ACT. The facility, near Capital Hill, will consolidate multiple government departments. This strategic project marks Cromwell’s post-simplification growth phase and is expected to attract future capital partners. Separately, the company has renegotiated its bilateral debt facilities, reducing its average drawn credit margin from 1.77% to 1.31%, reflecting a strengthened balance sheet following its European asset divestment.
Ventia secures $280m fibre contract extension with NBN Co
Ventia (ASX:VNT) has been awarded a contract amendment by NBN Co worth approximately $280m over 3.5 years, with an optional 2-year extension. The work involves upgrading approximately 43,400 premises from Fibre to the Node to Fibre to the Premises in the ACT-North region. The contract expands Ventia’s geographic footprint in fibre deployment and reinforces its role in NBN Co’s national upgrade program. Work is set to commence in mid-July.


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Source: Finance News Network

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