ALS kicks off $40m share plan for lab network expansion

The news: Testing and verification services firm ALS has opened its up to $40 million share purchase plan (SPP) to existing shareholders, as announced last week as a part of plans to expand its laboratory network and fund future M&A activity.

The numbers: Eligible ALS shareholders can subscribe for up to $30,000 in new shares at the lower price of $16.7 each or a 2% discount on the five-day volume weighted average price of ALS shares traded on the ASX until the SPP closing date, expected to be 20 June.

The last close price was $16.05. The SPP is not underwritten, meaning ALS could accept an under- or overscribed raise.

Purchase of the additional shares will not incur brokerage, commission or transaction costs. The new shares will be entitled to the FY25 final dividend to be paid on 25 July 2025.