ANZ today announced applications for its Share Purchase Plan offer (SPP Offer) to raise AUD$500 million in additional equity capital will open on Monday, 24 August 2015 with eligible shareholders able to purchase up to AUD$15,000 worth of ANZ ordinary sha
This capital raising is part of a program announced on 6 August 2015 to raise a total of $3 billion in equity capital to meet recently announced capital requirements for major Australian banks by the Australian Prudential Regulation Authority (APRA).
ANZ Chief Executive Officer 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,” Smith said.