MAGELLAN FINANCIAL GROUP LIMITED
ASX:MFGFinancial ServicesToday’s holders own 91.4% of what they think they own, once every option and right converts.
Share count grew 64% in 24 months; 1 cash raise in 24 months; options/rights overhang 9% of shares
MAGELLAN FINANCIAL GROUP LIMITED's ordinary share count grew 63.5% between September 2024 and July 2026, its latest share-count filing, to 293M shares. In the past 24 months the company conducted one capital raising, a Placement and SPP in March 2026 raising A$150.0M. Options and rights on issue could convert into 28M new shares, equal to 9.4% of the current share count, none of which are in the money; the nearest expiry falls in April 2027. The company is a financial services entity whose operating cash flow is not measured as a spend rate, so no funding-runway figure applies. No proposed securities issues are currently pending.
Quick answers · 4
When did MFG last raise capital?
The last capital raise in Magellan Financial Group's filings is Placement and SPP of $150.0M announced 2 Mar 2026, one of 1 cash raises in 24 months.
How much placement capacity does MFG have left?
About 41% of the 15% placement capacity left, about 59% used in 12 months (estimate). Under ASX Listing Rule 7.1 a company may place up to 15% of its shares in 12 months without shareholder approval.
When do MFG's options expire?
Unexercised options and rights equal 9.4% of Magellan Financial Group's shares on issue; the nearest expiry is Apr 2027.
How much has MFG's share count grown?
Magellan Financial Group has 292.6M shares on issue as at 28 Oct 2026, up 63.5% over 24 months according to its Appendix 2A filings.
Shares on issue — last 2 years
Cumulative figures as stated by the company on its daily notice. Latest notice
Cash runway
Issuance timeline
Latest 5 filings (Appendix 2AThe form a company lodges to have new securities quoted on the ASX. It restates how many of each class are on issue. quoted issues, 3G unquoted, 3H cancellations)
| Date | Form | Security | On issue, per this filing | Source |
|---|---|---|---|---|
| 14 Oct 2026 | 3H · cancellation | MFG : ORDINARY FULLY PAID | 292.6M | Appendix 3H |
| 23 Sept 2026 | 3G · unquoted | MFG : ORDINARY FULLY PAID | 292.6M | Appendix 3G |
| 10 July 2026 | 3H · cancellation | MFG : ORDINARY FULLY PAID | 292.6M | Appendix 3H |
| 1 July 2026 | 2A · quoted issue | MFG - ORDINARY FULLY PAID | 292.6M | Appendix 2A |
| 7 Apr 2026 | 3H · cancellation | MFG : ORDINARY FULLY PAID | 185.8M | Appendix 3H |
Securities on issue over time
Ordinary shares and every option and rights class, month by month over two years. The top edge is the fully diluted count.
Capital raises
1 cash raise in the last 24 months · 1 in the last 12 months
Forward supply
Every dated event on record that could add securities to the register — option expiries to their stated dates and proposed issues over the next 18 months, on one timeline.
Placement capacity
How much stock a company can place without asking holders. Listing Rule 7.1 / 7.1ARule 7.1 lets a company issue up to 15% of its shares in 12 months without a shareholder vote. Rule 7.1A adds 10% for smaller companies whose holders approve it. allows 15% of ordinary securities in any 12 months, and every Appendix 3BNotice that a company proposes to issue new securities, such as a placement. The securities are not on issue until a later filing confirms it. states how much of it an issue uses.
Pending proposed issues
Options & convertible securities
- Price-triggered26.6M · 9.1% of sharesOptions and warrants — they convert when the share price clears their exercise price.At least 23.2M of it states no exercise price — that much cannot be called in or out of the money.
- Condition-triggered977k · 0.3% of sharesPerformance and incentive rights — they convert when a hurdle is met, not at a price, and can lapse to nothing.
Exercise price on record: 3.4M priced, 24.2M where the filing never states one. A security with no exercise price is never counted in the money — nothing is paid to convert it, so there is no price for it to be above.
Each figure is the filing’s own count of securities, not a share count — a 2A never states what one security converts into.
An exercise price is on record for only 12.3% of this supply, so what is in the money today is not a measurement — the tile above reads “—” for that reason. Of the priced supply, 0 is in the money at $7.70 today. No more priced supply until 5× today’s price, which takes it to 3.4M (1.2% of shares).
- Priced supply in the money at the price on the axis — the curve, and the only thing on it. Ten prices, sampled: between two of them the true figure lies between the two.
- 24.2M (87.7% of the supply above) states no exercise price at all. It cannot be called in or out of the money at any price, which is why it is hatched rather than plotted.
| Code | Security | Type | Exercise price | Expiry | On issue | Source |
|---|---|---|---|---|---|---|
| MFGO | Options | Price-triggered, no exercise price stated | — | 16 Apr 2027 | 23.2M | Filing |
| MFGAA | Options | Price-triggered | $35.00 | 16 Apr 2027 | 3.4M | Filing |
| MFGAB | — | Condition-triggered | — | — | 21k | Filing Meeting |
| MFGAJ | — | Condition-triggered | — | — | 72k | Filing Meeting |
| MFGAK | — | Condition-triggered | — | — | 885k | Filing Meeting |
“Nil” is a stated nil exercise price: nothing is paid to convert. An em dash means the filing names no exercise price at all. Security is read from the filing’s own class description; an em dash there means the description is not one this table labels. One row is one security class, at the number stated in the most recent quotation application that restated it — linked, and dated, in the last column. For what expires soon across other listed companies, see the options expiry calendar.
A condition-triggered class has no exercise price and usually no expiry: what it vests on is set by a shareholder resolution, not by the register. Where the company lodged a notice of meeting before the class first appears here, it is linked as “Meeting” — that is where terms of this kind are put to shareholders. It is not confirmation that the document sets this class’s conditions, and no link appears where there is no such filing.
Director dealings
| Date | Director | Type | Shares | Options | Other | Value | Source |
|---|---|---|---|---|---|---|---|
| 20 Sept 2026 | Andrew Formica | Other incentive | 1k | — | — | — | 3Y notice |
| 28 Aug 2026 | Deborah Page AM | Buy on-market | 5k | — | — | — | 3Y notice |
| 21 Aug 2026 | Andrew Formica | Sell | — | — | — | — | 3Y notice |
Ownership
Latest announcements
Headlines link to the source PDFs on the ASX announcements platform. Data as of 28 Oct 2026.