29Metals Limited (ASX:29M) Completes Retail Entitlement Offer
29Metals Limited (ASX:29M) has successfully completed the retail component of its entitlement offer. The retail entitlement offer closed on 19 December 2024, raising approximately $26 million. The offer was fully underwritten and followed an earlier institutional placement that generated $154 million.
Retail Entitlement Offer Details
Approximately 2.5 million new shares were issued through valid applications. The remaining entitlements, totaling 95.5 million new shares, will be acquired through underwriting agreements.
Settlement of the retail entitlement offer is scheduled for 24 December 2024, with new shares expected to be allotted by 27 December 2024. Trading of the new shares on a normal settlement basis is anticipated to commence on 30 December 2024.
This successful funding initiative supports 29Metals’ ongoing business strategies and future development plans.
Motley Fool contributor Lianne Eastty has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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