Finance Your Super Super funds snap up CBA shares

Super funds snap up CBA shares

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Commonwealth Bank shares will resume trading after the lender raised $2.1 billion from institutional investors, including superannuation funds.

The bank said 90 per cent of its eligible institutional investors took up the offer of buying new shares.

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Australia’s biggest bank on Monday announced it had completed the institutional component of its $5 billion capital raising, meaning its shares will resume trading at the start of the local session.

The bank raised $2.1 billion from institutional shareholders and will now look to raise the remainder from retail shareholders through a renounceable entitlement offer.

– with AAP

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