Bank of Queensland today completed a placement of 2,700,000 ordinary shares to raise $18.63 million.
The purpose of the issue was to fund ongoing asset growth and ensure BOQ maintains target Tier 1 and total capital ratios. The placement is part of BOQ's capital management program and was lead managed by Macquarie Equity Capital Markets.
The new ordinary shares were placed to a range of institutional investors at $6.90 representing a discount to the 10 day volume weighted adjusted price of 6.1%.
Bank of Queensland Managing Director David Liddy said "We are delighted with the level of support demonstrated from a wide range of investors. Support from existing institutional investors was strong, and we were also able to welcome new investors to Bank of Queensland's share register."
Bank of Queensland confirms that as at the date of this release, there is no information that it would have been required to disclose under section 713(5) of the Corporations Act 2001 if a prospectus had been issued in reliance on section 713 of that Act, (special prospectus content rules for continuously quoted securities), in relation to this placement.
For any queries please contact Chief Financial Officer Robert Hines on 3212 3220.