ANZ will open its share purchase plan offer on 24 August 2015 in an effort to raise $500 million to meet additional capital requirements imposed by APRA.
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.
Liberal MP Tim Wilson has tipped a parliamentary committee will be quizzing RBA governor Philip Lowe on the central bank’s COVID response ...
AMP has rolled out new internal committees and is set to bring in external help to remedy its culture, with the chief admitting the company ...
NAB has tipped some IT staff are set to be impacted by reforms to its operating model, with the bank focusing on boosting efficiencies and ...
Subscribe to our newsletter
Copyright © 2020 Investor Daily
Get notifications in real-time for staying up to date with content that matters to you.
Read More