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ANZ announces share purchase plan date

By Reporter
 — 1 minute read

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.”

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“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.

 

 

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ANZ announces share purchase plan date
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