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Categories:Investments

Macquarie Group secures £266m capital raising

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Tracey Scott
Australian banking giant Macquarie Group has successfully priced a £266m capital raising by way of a fixed bookbuild.

The capital raising in the domestic and international capital markets will result in the issue of 20 million additional ordinary shares priced at £13.31 per share, representing a 13.2 per cent discount to the five day volume weighted average price and provide an expected £2bn buffer of capital.

The capital raising is part of a series of capital initiatives, with other initiatives subject to shareholder approval.

In a document on the Australian Securities Exchange, Macquarie Group chief financial officer Greg Ward said: “The issue received strong support from existing and new local and international investors and was significantly oversubscribed. It was pleasing that the vast majority of our institutional shareholders have participated in the issue, underlining their continued support.”

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