Magellan Completes AU$130 million Institutional Placement to Support Barrenjoey Merger

Magellan Financial Group Ltd (ASX: MFG) has finalised an institutional placement raising AU$130 million through the issuance of approximately 15.4 million new shares at AU$8.45 per share. The offer price represents a 0.1% discount to both the closing price on 27 February 2026 and the five-day volume weighted average price. The placement process attracted robust demand from current investors as well as new institutional participants.

Funds raised will be used to partially finance the acquisition of an additional approximate 10% economic interest in Barrenjoey Capital Partners from an affiliate of Barclays PLC for AU$148.9 million. In addition, Magellan will undertake a non-underwritten Share Purchase Plan targeting AU$20 million, enabling eligible Australian and New Zealand shareholders to subscribe at the same price as the placement.

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