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XTEK Limited ( (AU:HCL) ) has issued an announcement.
HighCom Limited has completed its Share Purchase Plan to existing eligible shareholders, raising $794,500 through the issue of 3,972,500 new shares at $0.20 each, with all applications accepted in full and no scale-back. The new shares will begin trading on 11 March, expanding the company’s equity base without refunding any funds to participants.
Combined with the $7 million recently secured via a two-tranche placement, the proceeds will fund sales growth, product manufacturing, capital expenditure for XTclave tooling and upgrades, operational growth initiatives, and transaction costs. The capital injection underpins HighCom’s strategy to scale production and technology capabilities in defence and protective equipment, potentially strengthening its competitive position and capacity to deliver on growing demand from military and security customers.
The most recent analyst rating on (AU:HCL) stock is a Hold with a A$0.32 price target. To see the full list of analyst forecasts on XTEK Limited stock, see the AU:HCL Stock Forecast page.
More about XTEK Limited
HighCom Limited is an ASX-listed defence technology group comprising HighCom Armor and HighCom Technology, serving global military, law enforcement, and first responder markets. HighCom Armor provides advanced personal ballistic protection, including body armour, helmets, and composite armour structures, while HighCom Technology integrates and supports small and medium uncrewed aerial systems and sensor payloads for Australian defence and security agencies.
The group also delivers program and project management, systems integration, maintenance, composite repairs, and logistics support services, positioning it as both an equipment supplier and technology integrator. Its operations focus on combining protective equipment manufacturing with high-end defence technology solutions to meet growing demand for modern battlefield and security capabilities.
Average Trading Volume: 255,359
Technical Sentiment Signal: Sell
Current Market Cap: A$24.39M
Learn more about HCL stock on TipRanks’ Stock Analysis page.