WAM Income Maximiser Limited (ASX: WMX) has successfully concluded its recent capital raising initiatives, drawing overwhelming demand to raise a total of $172.4 million. The company, which aims to provide monthly franked dividends and capital growth to shareholders by investing in Australia’s highest quality companies and corporate debt instruments, announced that the strong support has boosted its assets by over 50% to approximately $500 million less than 18 months after listing.
The capital raise comprised a pro-rata non-renounceable Entitlement Offer, a Top-Up Facility, a Shortfall Offer, and a Placement. The Entitlement Offer and Top-Up Facility alone accounted for $78.5 million, with the Placement contributing $47.0 million and the Shortfall Offer an expected $46.9 million. Notably, existing WAM Income Maximiser shareholders demonstrated significant confidence, taking up 62% of the funds. Geoff Wilson AO, WAM Income Maximiser Chairman, extended thanks to shareholders for their strong support, noting the demand significantly exceeded capacity.
This substantial capital infusion is expected to enhance WAM Income Maximiser’s market relevance and liquidity, potentially attracting additional broker and research coverage and increasing interest from financial planners. It is also anticipated to reduce the company’s fixed expense ratio, benefiting all shareholders. Lead Portfolio Manager Matthew Haupt expressed gratitude for shareholder trust, stating the capital allows the investment team to increase exposure to identified opportunities and build on the portfolio’s strong performance. The Board also declared fully franked dividends for September, October, November, and December 2026, reflecting an annualised yield of 7.1% including franking credits.
