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29Metals Limited (ASX:29M)

ALERT: Price-sensitive ASX Announcement for 29M
Current share price for 29M : $0.245 -0.375 (-60.48%)+
Announcement
Release
21 Jan 2026 9:38AM
Price at Release
$0.620
Full Release
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Summary
29Metals Limited announced the successful completion of its Institutional Entitlement Offer, raising approximately $119 million. This offer was part of a larger accelerated non-renounceable entitlement offer, underwritten on a 1 for 3.66 basis, to issue new fully paid ordinary shares at $0.40 each. The offer price represented a significant discount to the last closing price and other metrics. The offer received strong support from existing institutional shareholders, with 92% of entitlements subscribed. The funds raised will support strategic growth objectives, including ongoing projects and exploration activities. The retail component of the entitlement offer is set to open on January 28, 2026, targeting an additional $31 million. Details of the retail offer will be outlined in a Retail Offer Booklet to eligible shareholders in Australia and New Zealand.
Key Points
  • Successful completion of Institutional Entitlement Offer raising $119 million.
  • Offer price set at $0.40 per share with significant discounts to closing prices.
  • Strong support from institutional shareholders with 92% subscription.
  • Funds to support strategic growth and investment in existing projects.
  • Retail Entitlement Offer expected to raise additional $31 million.
  • Retail Offer Booklet to be distributed to eligible shareholders.
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.