WAM Leaders (ASX:WLE) completed a AU$225 million placement of ordinary shares to professional and sophisticated shareholders at a price of AU$1.325 each, according to a Monday filing with the Australian bourse.

The final placement size was increased in response to excess demand after bids exceeded the initial target raise, which resulted in the placement bookbuild closing early and allocations being subject to scale back, the company said.

The new shares are expected to settle on Aug. 13.

The company's share fell 4% in recent Monday trade.