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Platinum Asset Management Ltd ( (AU:L1G) ) has provided an update.
L1 Group Limited has successfully completed a $286 million institutional placement and a $19 million sale of existing shares, both priced at $0.95 per share. The proceeds will be used to enhance L1 Group’s growth initiatives, including funding new investment strategies and potential acquisitions. The company also plans to conduct a share purchase plan to raise an additional $25 million, offering eligible shareholders the opportunity to purchase new shares at the same price.
The most recent analyst rating on (AU:L1G) stock is a Hold with a A$0.79 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: 2,838,714
Technical Sentiment Signal: Buy
Current Market Cap: A$2.28B
For a thorough assessment of L1G stock, go to TipRanks’ Stock Analysis page.