Tuas Allots 9 Million Shares at $5.51 Each, Raising $75 Million
Tuas Limited has successfully raised $75 million through a Share Purchase Plan, exceeding its $50 million target, to support its upcoming acquisition of M1 Limited’s non-ICT assets.
- Share Purchase Plan raised $75 million, surpassing $50 million target
- Approximately 9 million new shares to be allotted at $5.51 each
- Around 3,000 shareholders participated in the SPP
- Share allocations scaled back to avoid marketable parcel issues
- New shares to commence trading on 6 October 2025
Successful Capital Raise
Tuas Limited (ASX, TUA) has announced the successful completion of its Share Purchase Plan (SPP), raising approximately $75 million; well above the initial $50 million target. This capital injection is intended to support the company’s proposed acquisition of M1 Limited’s assets, excluding its ICT business, a deal first disclosed in August 2025.
Strong Shareholder Support
The SPP attracted applications from roughly 3,000 shareholders, demonstrating strong investor confidence in Tuas’s strategic direction. Due to the oversubscription, the company implemented a scale-back mechanism to allocate shares proportionally based on each shareholder’s holdings as of the record date. This approach also ensured that all participants received a minimum allocation equivalent to $500, helping to maintain marketable parcel sizes.
Share Allotment and Trading
On 2 October 2025, Tuas will allot approximately 9 million new ordinary shares at an issue price of $5.51 per share. These shares will rank equally with existing shares and are scheduled to begin trading on the ASX on 6 October 2025. Shareholders can expect confirmation statements and any applicable refunds to be processed by 3 October.
Strategic Implications
This successful capital raise marks a significant step forward in Tuas’s acquisition strategy, signaling strong shareholder backing for its expansion plans. While the announcement confirms the funding milestone, details on the acquisition’s integration and financial impact remain forthcoming. Investors will be watching closely for further disclosures on how the M1 acquisition will influence Tuas’s market position and earnings trajectory.
Bottom Line?
With funding secured, Tuas is poised to advance its M1 acquisition, but the market awaits clarity on integration and returns.
Questions in the middle?
- What are the detailed terms and expected synergies of the M1 acquisition?
- How will the new share issuance affect Tuas’s earnings per share and shareholder dilution?
- What is the timeline for completing the acquisition and integrating M1’s assets?
