Maas Group shares jump following liquidity update

• Maas Group released a balance sheet update highlighting $1.7 billion in total liquidity.
• The company's shares rose 7% to $3.54 in early trading following the news.
• The update aims to reassure investors following a 40% share price decline earlier this month.

Maas Group (ASX:MGH) released a market update emphasising its balance sheet strength and refinancing plans after its stock dropped 40% earlier this month.

The company stated that it secured $1.7 billion in liquidity—including $600 million in cash—following the sale of its construction materials business to Heidelberg.

The update noted that the company had invested around $400 million in Firmus, while its electrical unit had been contracted to supply $1.1 billion of power cubes, of which $373 million had already been paid.

Following the announcement, the Maas Group share price was up at $3.64.

Maas Group completed a buyback of 36 million shares, representing 10% of its outstanding capital, after previously announcing the programme in February.

The company stated that a subsequent buyback programme targeting an additional 70.3 million shares, or 20% of its capital, is scheduled to begin on Oct. 16.