“They can't cap raise more than 15% per 12 months.”
I could be wrong but I thought that under Listing Rule 7.1, a company has the ability to place equity securities up to 15% of its existing issued capital in any 12-month period and then under Listing Rule 7.1A, a company can seek approval at its annual general meeting each year to issue equity securities equal to a further 10% of its issued capital, subject to certain conditions.
https://www.asx.com.au/documents/rules/Chapter07.pdf
DYOR
Ann: Up to A$20 Million Equity Raising, page-130
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