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Macquarie Group secures £266m capital raising

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.”


Ethical prospects look good

Worldwide IFA Nick McBreen says investors do not have to sacrifice returns to invest in ethical funds as many have held up well in the downturn.

Tracker funds decline in popularity

After a surge of investment in the fourth quarter of 2008, net sales of tracker funds fell in the first quarter of 2009, according to quarterly statistics from the Investment Management Association.Retail sales of tracker funds in the first quarter saw an outflow of £31.7m, compared with an inflow of £279.4m in the fourth quarter […]

Analysis: US banks under stress

Ten of America’s 19 largest financial institutions might be required to raise a total of $74.6 billion (£49.5 billion) in capital, according to the official American “stress tests”.The institutions had to undergo the stress tests, officially known as the Supervisory Capital Assessment Program (SCAP), so that regulators could determine whether capital buffers were sufficient enough […]


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