The ANZ closes its $2.5 billion raising from institutions

Photo: Cameron Spencer/ Getty.

The ANZ has closed $2.5 billion in new equity from institutions, the first part of a $3 billion raising to meet stricter capital requirements.

The raising was done through the placement of 80.8 million ANZ ordinary shares at $30.95 each.

The new shares are scheduled to start trading on ASX on August 13.

The next round is $500 million from retail investors.

Shareholders can subscribe for up to $15,000 of ANZ ordinary shares without incurring brokerage fees.

The bank says the capital will allow it to more quickly and efficiently accommodate additional capital requirements announced by APRA.

The ANZ cited the increase in average credit risk weights for major bank Australian mortgage portfolios to 25% taking effect from July next year.

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