ALS Limited Completes $350 Million Institutional Placement and Launches Share Purchase Plan

ALS ( (AU:ALQ) ) just unveiled an update.

ALS Limited has successfully completed a $350 million institutional placement, issuing approximately 21 million new shares at a price of $16.70 each. The proceeds will be used to enhance its laboratory network and support future growth initiatives. Additionally, ALS is launching a share purchase plan aimed at raising up to $40 million, offering existing shareholders the opportunity to acquire shares at a discounted price. This financial maneuvering is expected to bolster ALS’s balance sheet and position the company for continued expansion in its market.

The most recent analyst rating on (AU:ALQ) stock is a Buy with a A$15.20 price target. To see the full list of analyst forecasts on ALS stock, see the AU:ALQ Stock Forecast page.

More about ALS

ALS Limited operates in the laboratory testing services industry, providing analytical and testing services to various sectors including environmental, food, pharmaceutical, and industrial markets. The company focuses on delivering high-quality laboratory services and has a strong market presence globally.

Average Trading Volume: 1,191,474

Technical Sentiment Signal: Buy

Current Market Cap: A$8.58B

Find detailed analytics on ALQ stock on TipRanks’ Stock Analysis page.