The Commonwealth Bank has closed the retail round of its $5.1 billion equity raising to meet stricter capital rules.
The bank raised $1.5 billion from retail shareholders who could buy 1 new share for every 23 shares at $71.50 each.
When combined with the institutional raising, the bank has so far collected $3.6 billion.
The total target is $5.1 billion. From 10 am today, another 21 million entitlements are being offered to both retail and institutional investors.
The Commonwealth is the last of the four big banks to reveal its capital plans to meet APRA’s new rules.
Westpac did a $750 million hybrid note issue, the ANZ a $3 billion issue of equity and the NAB has completed a $5.5 billion raising, the biggest in Australian corporate history, to partly back the float of its troubled UK business.
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