New Hope is set to increase its stake in Malabar Resources to 19.9% from 15% through an upsized equity raise of approximately $180 million.

The investment will occur in tranches, with the initial acquisition of 42,073,773 Malabar shares at $1.80 each, totalling $75.7 million.

Additional shares, estimated at around 2.2 million, will be allotted after regulatory approvals, maintaining the 19.9% interest.

The funding will be sourced from New Hope's existing cash reserves.