J2 Acquisition Reports USD159.6 Million Operating Loss After Listing

LONDON (Alliance News) - J2 Acquisition Ltd said Wednesday that its operating loss for the ...

Alliance News 16 May, 2018 | 4:43PM
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LONDON (Alliance News) - J2 Acquisition Ltd said Wednesday that its operating loss for the period to February 28 was USD159.6 million.

In its first report of results since its incorporation in September 2017, the company - which was set up to undertake an acquisition of a target company or business - reported operating costs of USD164.9 million.

The operating costs were partially offset by a USD5.3 million in net investment income.

The company recorded total assets worth USD1.2 billion, of which the majority were short-term investments.

The board said it continues to review a number of acquisition targets and it is confident it will produce "attractive returns" for its shareholders.

Shares in J2 Acquisition closed at USD9.36, down 0.4%.

By Elena Cherubini; elenacherubini@alliancenews.com.

Copyright 2018 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article
Security Name Price Change (%) Morningstar
Rating
J2 Acquisition Ltd 9.20 USD 0.27 -
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