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Update: As of 12:45pm AEST on 20 June, Raptis Group shares have lost 50.63 per cent of their value in daily trading down to 7.9 cents per share (cps) - a level that is still up more than 31 per cent over the past five days. Values in the story below reflect the situation at the market close yesterday on 19 June, 2025.
Gold Coast-based company Raptis Group (ASX: RPG) is unable to explain why its share price has more than tripled over the past week to nine-year highs, amidst a capital raise to secure funds for buying the property management rights business of the Sterling Broadbeach residential development under construction in Broadbeach.
Raptis launched the capital raise in May with plans to more than double its number of shares on issue to up to 350.68 million.
At the offer price of $0.10 per share, it completed a private placement for $225,000 with Hayman Developments (QLD) and GAS Asset Holdings, which both committed to fully underwriting an entitlement offer for the remaining 173 million-plus shares on issue under the offer.
The funds are slated for buying the Sterling Broadbeach management rights, in which Patmos Development Holdings, an associate of Raptis directors James and Helen Raptis, has an interest.
The group has engaged an independent expert to report to shareholders on the proposal, with an anticipated purchase price between $1 million to $2 million.
Whilst it is anticipated the acquisition would occur in May 2026, Raptis has noted plans to pursue an alternative management rights business of a similar value on the Gold Coast if it can't reach a deal.
RPG shares were reinstated to quotation following the announcement on 19 May, and started to edge higher over time, reaching $0.038 by the end of that month, and then $0.05 by 12 June.
But the share price has surged much more dramatically over the past week in the lead-up to Raptis releasing results from the entitlement offer, and today alone rose 66.67 per cent to $0.16 - a 16x multiple to the entitlement offer price.
The company announced today that the entitlement offer received valid acceptances for approximately 62,173,503 new shares, worth approximately $621,735. At current pricing on the market however, these same new shares would be worth more than $9.9 million.
Raptis' announcement confirmed that the remaining 113,168,924 of new shares would be placed at $0.01 by the underwriters.
Entities associated with directors Malcolm Cory, James Raptis and Helen Raptishave also taken an aggregate of 12 million shares, placed with them by the underwriters under the underwriting arrangements.
The entitlement offer raised a total of $1.75 million.
The market regulator probed Raptis about the surge in its share price, but the company responded that it was "not aware of any information concerning it that has not been announced to the market, which if it were known, could be an explanation for recent trading in its securities".
"The company is not aware of any other explanation that the Company may have for the recent trading in its securities," Raptis stated.
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