ANZ has completed its share purchase plan (SPP) raising $720 million in new tier one capital, with the raising oversubscribed by $220 million.
ANZ has announced it will accept all eligible applications and issue approximately $720 million of new shares at $26.50 per share.
The SPP price is significantly lower than ANZ's 6 August $2.5 billion placement to institutional investors, which was priced at $30.95.
ANZ chief financial officer Shayne Elliott said it was pleasing to see so many retail shareholders take up the opportunity to participate in the SPP offer.
"The vast majority of those retail shareholders participating in the SPP offer have participated in an amount greater than they would have otherwise been able to do so under an equivalent rights issue," Mr Elliott said.
"The new ANZ shares will be allotted on Thursday, 17 September 2015 and will be quoted on the Australian and New Zealand Stock Exchanges on Monday, 21 September 2015," said an ANZ statement.
"Holding statements and confirmation advices are expected to be mailed to participating shareholders by Thursday, 24 September 2015."
Perpetual Investment’s funds under management (FUM) have decreased by $1.1 billion over the last quarter as the market continues its move ...
The Australian exchange-traded product (ETP) industry is likely to reach $60 billion by the end of the year according to one provider, with ...
Investors interested in emerging market debt (EMD) should employ specialist managers in order to succeed, according to a report from Willis ...