5GN Finalizes Sale of Webcentral Shares

Webcentral Ltd (AU:5GN) has released an update.

5G Networks Limited (5GN) has agreed to sell its shares in TopCo, which controls the Webcentral business, for approximately A$20.5 million. This move comes as 5GN’s stake in TopCo will be diluted following a merger with World Host Group, prompting the decision to sell. The net cash benefit for 5GN from this transaction is expected to be around A$20 million after accounting for various costs.

For further insights into AU:5GN stock, check out TipRanks’ Stock Analysis page.

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