L1 Capital reduces stake in Chorus, sells A$86.94m in shares

L1 Capital Pty Ltd and L1 Capital Strategic Equity Management Pty Ltd, collectively known as L1 Capital, have decreased their substantial holding in Chorus Limited from 10.25% to 7.86%. This reduction was reported in a notice dated September 23, 2025, and represents a change in voting power based on 433,887,294 issued shares.

The change reflects a series of on-market sales between September 5, 2025, and September 19, 2025. These transactions involved the sale of securities totaling approximately A$86.94 million across both L1 Capital entities. Notably, L1 Capital Pty Ltd executed sales worth about A$40.66 million, while L1 Capital Strategic Equity Management Pty Ltd sold securities valued at approximately A$45.45 million.

The current relevant interests show L1 Capital Pty Ltd holding voting power through various custodians including Merrill Lynch (Australia) Nominees Pty Limited, Morgan Stanley & Co. International PLC, Goldman Sachs International, and JPMorgan Chase Bank, N.A. L1 Capital Strategic Equity Management Pty Ltd's holdings are managed by Citicorp Nominees Pty Ltd, State Street Australia Limited, and JPMorgan Chase Bank, N.A.