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L1 Global Long Short Fund Limited (ASX:GLS)

ALERT: Price-sensitive ASX Announcement for GLS
Current share price for GLS : $2.080 0.35 (20.23%)+
Announcement
Release
9 Dec 2025 8:22AM
Price at Release
$1.730
Full Release
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Summary
L1 Global Long Short Fund Limited, previously known as Platinum Capital Limited, announced a pro-rata non-renounceable entitlement offer to raise up to $415 million through the issuance of new fully paid ordinary shares. The Entitlement Offer allows eligible shareholders in Australia and New Zealand to subscribe for one new share at A$1.63 for every existing share they hold. Furthermore, eligible shareholders can apply for additional shares through a top-up facility, and any remaining shares can be offered to wholesale investors through a shortfall offer. The funds raised will be used to implement L1 Capital's Global Long Short Strategy. The entitlement offer is not underwritten and is managed by a group of financial firms. The company's shares were expected to change their ASX ticker code from 'PMC' to 'GLS'.
Key Points
  • Pro-rata non-renounceable entitlement offer announced to raise up to $415 million.
  • The offer price set at A$1.63 per new share.
  • Available to eligible shareholders in Australia and New Zealand.
  • Option for eligible shareholders to apply for additional shares through a top-up facility.
  • Shortfall offer available for wholesale investors.
  • Funds to be invested in L1 Capital's Global Long Short Strategy.
  • The company previously known as Platinum Capital Limited.
  • ASX ticker change anticipated from 'PMC' to 'GLS'.
  • Offer managed by multiple financial firms and not underwritten.
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.