Daily Roundup

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Ventia secures major NZ infrastructure contract

Ventia Services Group has landed a substantial road maintenance deal with the Far North District Council in New Zealand. The NZD $125 million contract spans five years with options to extend for an additional three and two years. The work will cover everything from pavement and structures to vegetation and roadside assets across the region's road network. Managing Director Dean Banks highlighted the company's commitment to keeping local roads safe and reliable, positioning Ventia as a long-term partner in the council's infrastructure management.

Leadership transition at IPH

Professional services company IPH Ltd is welcoming a new leader at the helm. Tony O'Malley will take over as Managing Director and CEO on July 1, 2026, succeeding Dr. Andrew Blattman, who announced his retirement plans last November. O'Malley brings over three decades of global experience across the Big Four advisory firms, major law firms, and large corporations. Most recently, he served as Global Legal Business Solutions Leader at PwC. His fixed annual remuneration package sits at $950,000, subject to annual review and various incentive arrangements.

8I Holdings navigates volatile markets

Investment company 8I Holdings delivered mixed results for FY2026, with strong gains offset by late-year market turbulence. The group posted investment gains of $1.28 million, a significant jump from $0.17 million the previous year, driven largely by its U.S. technology stock portfolio. However, geopolitical tensions in the final quarter triggered a market correction, resulting in a net loss of $0.36 million for the year. On the bright side, the loss improved by 67.2% compared to FY2025, and total assets grew to $13.55 million. The group remains focused on high-quality businesses aligned with megatrends like artificial intelligence and digital transformation.

Suncorp winds down Capital Notes

Suncorp Group has initiated the suspension and removal of its Capital Notes 3 from quotation. The securities, originally issued in December 2019, are being suspended under Listing Rule 17.2 pending their redemption. The removal will be formalized once Suncorp lodges the appropriate cessation notification. This action affects only the specified Capital Notes and leaves all other Suncorp securities unimpacted.

Racura secures funding backstop for clinical programs

Biotech company Racura Oncology has locked in an underwriting agreement to ensure full funding for its development pipeline. The company exercised $1.25 Piggyback Options that yielded $22.879 million, and an existing shareholder has now agreed to underwrite any remaining unexercised options—potentially raising an additional $2.298 million. This brings the total expected funding from the Piggyback Options to $25.2 million upon full conversion. The capital will support Racura's clinical programs targeting AML, lung cancer, and anthracycline cardioprotection, as well as general operations.