SYDNEY, June 25, 2026, 08:43 (AEST)
- Sigma ended Wednesday at A$2.73, falling 0.4%. The S&P/ASX 200 added 0.24%. Healthcare stocks jumped over 2%. Trading in Sigma hit 30.9 million shares, more than double the 65-day average volume.
- The stock has given up 44% of its bounce from June 15 and now trades 6.5% under its June 9 finish, wiping out around A$2.2 billion in market cap.
- Sigma’s published escrow schedule shows roughly 5.02 billion founder-linked shares, or 43.5% of its shares, are still locked up. The restriction lasts until the company’s FY26 results or August 31, whichever comes first. At Wednesday’s close, those shares were valued at A$13.7 billion.
Sigma Healthcare Ltd (ASX:SIG) was in the ASX pre-open Thursday after falling for two sessions. Trading was set to begin at 09:59:45 Sydney time.
Small drop Wednesday, but heavy action on the tape. Trading volume for Tuesday and Wednesday hit 58.8 million shares, nearly double the usual two-day run, using FactSet’s 65-day average as a baseline.
Boots price moves have been more pronounced. Sigma finished at A$2.64 on June 12, gained to A$2.80 on June 15 as talks ended, but then closed at A$2.73 on Wednesday. That’s a 7 cent drop from the earlier 16-cent jump. Shares are now 19 cents under the A$2.92 they traded at on June 9.
Sigma’s latest entry on its public announcement log is the Boots withdrawal. Guidance and strategy remain unchanged since June 15, and nothing new has been disclosed.
The board said buying Boots didn’t fit its strategy or capital goals. Australia stays the main focus, but the company will keep looking at deals in other regions.
“Investors appear to have breathed a sigh of relief,” Marc Jocum, senior product and investment strategist at Global X ETFs, said after the deal was pulled. According to Jocum, Sigma shareholders want the company to focus on current opportunities instead of chasing another big deal. Reuters
Chemist Warehouse-branded stores in Australia lifted network sales 16.7% in the financial year to April. Like-for-like sales increased 14.4%. International network sales jumped 24.7% through March. CEO Vikesh Ramsunder said the average GLP-1 customer basket was “40% higher in units.”
Normalised revenue rose 14.9% in the first half. EBIT climbed 18.7%. Earnings per share increased 19.4%. Sigma reported A$13 million in merger benefits so far and kept its target for A$100 million a year by FY29. Net debt stood at 0.6 times normalised EBITDA.
FactSet data show analysts have an average target of A$3.27, implying upside of 19.8% from Wednesday’s close. The lowest target, at A$2.40, sits 12.1% under the latest price.
Escrow blocks are the next test for supply. Shares become eligible for release, but they don’t have to be sold. Sigma’s merger prospectus warned founder sell-downs after escrow could put pressure on the share price.
