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29Metals Limited (ASX:29M)

ALERT: Price-sensitive ASX Announcement for 29M
Current share price for 29M : $0.360 -0.26 (-41.94%)+
Announcement
Release
20 Jan 2026 9:29AM
Price at Release
$0.620
Full Release
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Summary
29Metals Limited announced an equity raising initiative through a fully underwritten 1 for 3.66 accelerated pro rata non-renounceable entitlement offer to raise $150 million. The initiative is designed to support growth strategies, impacted metal production, and investment in Gossan Valley and Capricorn Copper. The offer is priced at $0.40 per share, reflecting significant discounts to recent trading prices. Major shareholders BUMA and AustralianSuper have committed significant investment, and the equity raising is managed by Macquarie Capital and Morgans Corporate Limited.
Key Points
  • 29Metals Limited to raise $150 million through equity raising.
  • Fully underwritten 1 for 3.66 accelerated pro rata non-renounceable entitlement offer.
  • Offer includes institutional and retail components.
  • Priced at $0.40 per share, with discounts to market prices.
  • Major shareholders BUMA and AustralianSuper committed to significant investments.
  • Proceeds to address impacts on metal production and growth projects.
  • Macquarie Capital and Morgans Corporate Limited are managing the offer.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.