The wealth giant’s shares are in a trading halt as it prepares a capital raise, with rumours swirling that it is set to acquire MLC.
IOOF has requested an extension to the trading halt for the purpose of considering, planning and executing a capital raising, which will comprise an institutional placement, an accelerated non-renounceable entitlement offer and a share purchase plan. IOOF went into a trading halt on Friday pending an announcement in relation to a "potential significant transaction".
Media reports indicate IOOF could be preparing to purchase MLC.
More to come.