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.
Investor confidence is on the rebound and the ASX hit a 12-year high on Monday. But it’s not all good news for the Australian economy. ...
While the Asia-Pacific region, excepting Japan, saw the world’s strongest dividend growth in the past decade, Australia has barely shown a...
One fund manager will release a new exchange-traded fund that will provide investors access to one of the fastest growing economies in the w...
Get notifications in real-time for staying up to date with content that matters to you.
