L1 Group Issues 26 Million New Shares at $0.95 Each
L1 Group Limited has successfully closed its Share Purchase Plan, raising the targeted $25 million despite demand exceeding $31.9 million. The company will issue over 26 million new shares, with scaled allocations to balance shareholder equity.
- Share Purchase Plan raised $25 million at $0.95 per share
- Over 1,400 shareholders participated, with demand exceeding $31.9 million
- Pro rata scale back applied to applications above $1,000
- Maximum allocation capped at $30,000 per shareholder
- New shares to be issued on 28 November and trade from 1 December
Successful Capital Raise Amid Strong Demand
L1 Group Limited (ASX – L1G) has announced the successful completion of its Share Purchase Plan (SPP), raising the maximum targeted amount of $25 million. The SPP closed on 21 November 2025, attracting strong interest from shareholders with total demand reaching approximately $31.9 million. This oversubscription reflects robust investor confidence in the company’s prospects.
Allocation and Scale Back Mechanism
To manage the excess demand, L1 Group implemented a pro rata scale back for applications exceeding $1,000, ensuring equitable treatment of shareholders. Applications at the $1,000 level were fully allocated without reduction, while larger applications were scaled back proportionally based on shareholdings as of the record date, 28 October 2025. A maximum allocation cap of $30,000 per shareholder was also applied to prevent disproportionate share distribution to smaller investors.
Issuance and Trading Timeline
Approximately 26.3 million new shares will be issued at $0.95 each, with issuance scheduled for 28 November 2025. These shares will rank equally with existing shares and are expected to commence trading on the ASX from 1 December 2025. Shareholders who participated in the SPP will receive holding statements by 3 December 2025, with refunds for scaled-back applications processed shortly thereafter.
Strategic Implications
While the announcement does not specify the intended use of the capital raised, the successful SPP bolsters L1 Group’s financial position, potentially supporting growth initiatives or balance sheet strengthening. The strong shareholder participation signals positive market sentiment, but investors will be keen to see how the company deploys these funds in the coming months.
Bottom Line?
L1 Group’s oversubscribed SPP strengthens its capital base, setting the stage for strategic moves ahead.
Questions in the middle?
- What are L1 Group’s plans for deploying the $25 million capital raised?
- How will the share scale back impact shareholder composition and future voting power?
- Will the strong demand for the SPP translate into sustained market momentum post-trading?
