Super funds snap up CBA shares
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.
• CBA’s monster profits – here’s how much you get
• Commonwealth Bank posts record profit
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