Dashboard containing:

• Monthly and annual share price movements for main listed stocks
• Key earnings multiples
• Forward earnings multiples vs forward growth estimates
• Share price movements tracked over last twelve months

Commentary

Key developments

Most enterprise ICT stocks in Australia and New Zealand are down over the last year, though some stronger full year results buoyed certain stocks. Overall, economic growth is expected to be sluggish relative to 2022, creating uncertain performance for enterprise ICT equities. Some of these companies are growing through acquisition rather than organically, and are exposed to a downturn.

Webcentral

Webcentral rose a staggering 100% in October after the microcap announced plans to sell off its web and email hosting businesses for $165 million. The company has entered into binding agreements with a European investment group led by Oakley Capital to sell two-thirds of its Webcentral and Melbourne IT domain name registry, consumer hosting and email hosting services business by November. As a result of the sale, Webcentral will change its name to 5G Networks Limited and continue carrying on its remaining businesses as a telecommunications carrier and owner of infrastructure servicing enterprise and wholesale customers.

Vonex

Vonex has launched over 60% in October, reversing its equal drop in September. This is despite any price sensitive announcements by the company. The microcap is prone to extreme volatility given its small market capitalisation of around $7m.

Spirit Technology

Spirit Technology’s stock rose 4.5% in October after it announced its capital raise was successful and oversubscribed, with a convertible note raising of close to $5.8m to be spent on acquisition related costs and working capital, with the company seeking inorganic growth in future in the form of acquisitions.

About Venture Insights

Venture Insights is an independent company providing research services to companies across the media, telco and tech sectors in Australia, New Zealand, and Europe.