Lotus Completes Institutional Entitlement Offer Bookbuild
Key points
- Raised approximately A$34.2 million from institutional investors
- Retail Entitlement Offer to open on 30 July 2026
- Shares expected to resume trading on ASX on 27 July 2026
Full summary
Lotus Resources Limited announced the successful completion of the institutional component of its 1-for-1 pro rata accelerated non-renounceable entitlement offer, raising approximately A$34.2 million. The offer received strong support from existing and new institutional investors. The retail component, offering up to A$26.0 million, will open on 30 July and close on 13 August. The funds will support the ramp-up of Kayelekera and provide financial flexibility. Lotus expects its shares to resume trading on an ex-entitlement basis from 27 July. The company plans to lift its suspension from trading on the ASX following this announcement.
Guidance
A$34.2 million raised from institutional investors; retail offer to raise up to A$26.0 million
Outlook
Proceeds will de-risk Kayelekera's ramp-up and provide financial flexibility for Lotus.
Summary generated by a large language model. Please interpret with care.