The share purchase plan offer (SPP Offer), which is part of the institution’s $3 billion capital raising program, will open on Monday, 24 August 2015.
ANZ chief executive Mike Smith said: “We considered all the options available and determined that, on balance, a share purchase plan in conjunction with our institutional placement supports our loyal retail shareholders and completes the capital raising in a fair, timely and efficient way.”
“Most of our retail shareholders will be able to apply for more shares through the SPP Offer than under a pro-rata rights issue, while many of our largest retail shareholders would have already had access to placement shares through their brokers.”
Eligible shareholders will be able to purchase up to $15,000 worth of ordinary shares. The offer price per share will be $30.95, an ANZ-issued statement said.
The offer is scheduled to close at 5pm on 8 September 2015.
