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Platinum Asset Management Ltd ( (AU:L1G) ) has issued an update.
L1 Group Limited, listed on the Australian Securities Exchange, has initiated a share purchase plan (SPP) allowing eligible shareholders in Australia and New Zealand to purchase up to $30,000 worth of shares at $0.95 per share, the same price as a recent institutional placement. This SPP aims to raise up to $25 million, supplementing the $286 million already raised, and offers shareholders the opportunity to invest without incurring additional transaction costs. The plan is not underwritten, and the company reserves the right to adjust the target amount based on demand, potentially impacting shareholder value and market perception.
The most recent analyst rating on (AU:L1G) stock is a Hold with a A$1.00 price target. To see the full list of analyst forecasts on Platinum Asset Management Ltd stock, see the AU:L1G Stock Forecast page.
More about Platinum Asset Management Ltd
Average Trading Volume: 3,318,381
Technical Sentiment Signal: Buy
Current Market Cap: A$2.69B
Learn more about L1G stock on TipRanks’ Stock Analysis page.