L1 Global Long Short Fund Completes A$565.4m Raising

L1 Global Long Short Fund (ASX:GLS) released the results of the retail stage of its entitlement offer and a follow-on placement, completing an equity raising that achieved its maximum potential of approximately A$565.4 million.

The retail entitlement offer, including the top-up facility, will issue approximately 100.7 million new shares at A$1.76 to raise approximately A$177.2 million. The retail shortfall offer to wholesale investors drew binding bids exceeding the shares available and will raise approximately A$204.5 million through approximately 116.2 million new shares, with allocations scaled back. Citing that demand, the company also ran a placement at the offer price using its ASX Listing Rule 7.1 capacity, raising approximately A$82.7 million through approximately 47.0 million shares. These follow the institutional entitlement and shortfall offers, which raised approximately A$100.9 million. In total the company will have issued 321,248,063 new shares and placement shares. The shares are expected to be issued on Friday, 30 October 2026 and to commence trading on Monday, 2 November 2026. The proceeds will be invested in accordance with the L1 Global Long Short Strategy, and L1 Capital Pty Ltd, as investment manager, will bear all costs of the raising.

The entitlement offer was non-underwritten. The release does not state what proportion of retail entitlements eligible shareholders took up.