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Macquarie Group completes £330m share placing

Macquarie Group has successfully completed its £330.9m share purchase plan.

The Australian banking group, which recently launched its wrap service in the UK, has received more than 55,000 applications from eligible shareholders for approximately £330.9m, or AUS$669m, of new Macquarie ordinary shares.

In an Australian Securities Exchange alert today, Macquarie chief financial officer Greg Ward said the firm will accept all valid applications resulting in the allotment of a maximum of 25.2 million new shares.

Ward says: “We are pleased with the strong support and high level of participation we received from our retail shareholders. Together with the strong support we received from institutional investors recently, this demonstrates significant demand for Macquarie Group shares.”

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