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Malibu Life Targets $125 Million Proceeds Via Share Placing, Open Offer

MT Newswires·08/03/2026 00:33:53
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12:33 AM EDT, 08/03/2026 (MT Newswires) -- Malibu Life Holdings (MLHL.L) plans to raise $125 million in gross proceeds through a share placing and open offer, according to a July 31 release. The London-listed insurance company has conditionally placed $109 million worth of shares with institutional and other investors. The placing and open offer comprises a total of up to 8,621,748 new shares at $14.50 apiece. The net proceeds will be used to support the expansion of the TruSpire direct annuity origination business and Malibu Core's reinsurance operations, as well as to meet capital requirements for ratings and regulatory purposes and for general corporate needs. Malibu Life said the results of the placing and open offer will be announced on Aug. 19, with the new share expected to be admitted to trading on Aug. 21.