Dulux Ltd (DLX) is a manufacturer and marketer of paint products, covering powder and protective coatings, woodcare products, and automotive refinish coatings.
DLX began trading for the first time on the Australian stock market (ASX) on 12 July, with its price opening at $2.50. DLX’s new entry makes it one of the market’s stocks to watch.
DLX was recently demerged from Orica (ORI), with ORI shareholders receiving one DLX share for every ORI share owned.
ORI shares closed at $24.24 and DLX shares closed at $2.54. The combined total of $26.78 was 4.3% higher than ORI’s closing price of $25.68 on Friday.