Powered by MOMENTUM MEDIA
subscribe to our newsletter
Macquarie completes $400m capital raising

Macquarie completes $400m capital raising

Macquarie Group CFO Patrick Upfold has announced that the company has successfully completed a $400 million capital raising in the domestic and capital markets.

The institutional placement, conducted by way of a bookbuild, will result in the issue of five million new, fully-paid ordinary shares at a price of $80 each.

In addition to the placement, Mr Upfold announced that eligible Macquarie ordinary shareholders in Australia and New Zealand will also have an opportunity to participate in a capital raising by way of a share purchase plan.

Advertisement
Advertisement

“The placement was significantly oversubscribed, receiving strong support from existing and new investors both in domestic and international markets,” he said.

“This outcome reflects the positive response from our shareholders to the Esanda dealer finance acquisition, as well as the continued growth across our existing businesses.”

Macquarie said the placement does not require shareholder approval and settlement is expected to take place on Wednesday. The shares are scheduled to commence trading on the ASX on Thursday.

Last week, ANZ announced that it had entered into an agreement to sell its Esanda Dealer Finance portfolio to Macquarie for $8.23 billion.

Macquarie completes $400m capital raising
mortgagebusiness

 

Latest News

Westpac and the Commonwealth Bank’s share of the third-party mortgage market has spiked, in contrast to sharp declines from NAB and ANZ, t...

A non-major lender has dropped its fixed mortgage rates, becoming the fourth lender to reprice its offerings over the past two weeks.   ...

The interest lenders earn on mortgages is expected to remain under pressure this year and next, according to Moody’s. ...

FROM THE WEB
podcast

LATEST PODCAST: The Third-Party Lending Report in summary

Do you think the banking royal commission recommendations could negatively impact competition in the mortgage market?