Alpha HPA Limited (ASX: A4N)
Sector: Materials
Market cap: A$603M (as of 2 Nov 2026)
Alpha HPA Limited is a specialty materials manufacturer producing high-purity alumina (HPA) and related products primarily for advanced semiconductor applications, including thermal fillers for AI chip packaging and chemical mechanical planarisation abrasives. The company operates Stage 1 of its HPA First project in Gladstone, Queensland, which is currently in production with approximately 350 tonnes per annum capacity, while constructing Stage 2 to expand this to approximately 10,000 tonnes per annum by 2027. Alpha holds a technology advantage as the only known manufacturer capable of meeting critical 'low-alpha' radiation specifications required for heat dissipation in advanced semiconductor packaging.
Data as of 2 Nov 2026.
Recent capital raises
Substantial holders — latest moves
| Date | Holder | Move | Holding | Source |
|---|---|---|---|---|
| 27 Oct 2026 | Macquarie Group Limited ('MQG'); and its controlled bodies corporate listed in Annexure A ('Macquarie Group Entities') | Exit | — | Filing ↗ |
| 9 Oct 2026 | REGAL FUNDS MANAGEMENT PTY LIMITED AND ASSOCIATES | Increase | 7.34% → 8.41% | Filing ↗ |
| 21 Sept 2026 | Macquarie Group Limited ('MQG'); and its controlled bodies corporate listed in Annexure A ('Macquarie Group Entities') | Decrease | 6.89% → 5.18% | Filing ↗ |
| 4 Sept 2026 | Vanguard Group (The Vanguard Group, Inc. and its controlled entities including Vanguard Investments Australia Ltd. and those listed in Annexure A) | Exit | 5.0% → 4.945% | Filing ↗ |
| 5 Aug 2026 | Macquarie Group Limited ('MQG'); and its controlled bodies corporate listed in Annexure A ('Macquarie Group Entities') | Decrease | 8.23% → 6.89% | Filing ↗ |
Director trades — on-market
Cash and runway
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