LGI Limited (ASX:LGI), an established domestic market leader in the recovery of biogas from landfill and its conversion into renewable electricity and saleable environmental products, has announced the successful completion of a $51.2 million placement and the launch of a $5 million Share Purchase Plan (SPP). The placement received firm commitments from institutional and sophisticated investors at $3.85 per share. The SPP offers existing eligible shareholders the opportunity to purchase additional shares at the same price.
The company received overwhelming support for the placement from both existing and new institutional investors, reflecting confidence in LGI’s strategy and growth outlook. LGI intends to use the raised capital to accelerate the delivery of High Conviction Projects currently in execution, including expansions at the Mugga Lane, Belrose, and Nowra sites. Additionally, funds will be allocated to new High Conviction Projects in Development, focusing on power station expansion and grid-scale battery opportunities.
The SPP is non-underwritten and capped at $5 million, with the company reserving the right to scale back applications at its discretion. Eligible shareholders, listed on the LGI register as of 7:00pm (Sydney time) on Wednesday, 22 October 2025, with an address in Australia or New Zealand, can apply for up to $30,000 of new shares without incurring brokerage fees. The SPP offer opens on Wednesday, 29 October 2025, and closes on Wednesday, 12 November 2025.
Vik Bansal, Non-Executive Chair of LGI, expressed pleasure with the strong support for the capital raising, stating it enables the company to accelerate project execution and expand its portfolio of renewable assets. LGI’s CEO, Jarryd Doran, noted that the $50 million funding will allow the company to accelerate expansions and fund the next wave of power station and grid-scale battery opportunities. Following the placement, LGI expects to have approximately $48 million of pro forma undrawn bank capacity and a strengthened balance sheet.
