BOQ completes first phase of $450m raising

Reported by AAP
Wednesday, March 28, 2012
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Bank Of Queensland.
Australia's richest and poorest postcodesOne pocket of Sydney's eastern suburbs earn close to nine times more than those who live in the country's poorest area.

Bank of Queensland (BOQ) has successfully completed one component of its capital raising venture, raising $284 million from institutional investors.

The bank announced the sale of new shares on Monday to raise $450 million, as it revealed falling property values in Queensland would impact its loans and result in a $91 million first half loss.

Institutional shareholders had taken up $150 million of new BOQ shares in a share placement, and a further $134 million in shares through an entitlement offer, the bank said on Wednesday.

An offer of shares to retail shareholders is expected to raise a further $166 million.

23/05/2015 17:15Sydney, Australia. 23 May,2015
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