- Macquarie Group has successfully raised $1 billion from shareholders, one day after announcing its pursuit to the market
- The company issued 8.3 million shares at a price of $120 per share
- The funds will be used for investments in the renewables, technology and infrastructure sectors
- Macquarie is offering eligible shareholders the opportunity to participate in a non- underwritten share purchase plan (SPP)
Macquarie Group has successfully raised $1 billion to fund investments, just one day after announcing its pursuit to shareholders.
The company issued 8.3 million shares at a price of $120 per share to shareholders.
CEO Shemara Wikramanayake is pleased with the success of the placement.
“We are pleased with the success of the placement and the strong support from institutional shareholders,” she said.
Funding from the placement will go towards the renewables, technology, and infrastructure sectors. It also plans to capitalise on opportunities for investment by having financial flexibility.
Shemara said the company saw huge opportunities in priority sectors, such as infrastructure and green energy, and wind farm projects in the United Kingdom and Taiwan.
Following the completion of the institutional placement, Macquarie is offering eligible shareholders the opportunity to participate in a non- underwritten share purchase plan (SPP).
Shareholders will be allowed up to $15,000 worth of shares within the SPP. The offer is expected to open Wednesday, September 4 and close on Friday, September 20.
“We are investing in growth, while ensuring that we retain a strong capital position. The capital raised provides flexibility to take advantage of the opportunities that each of Macquarie’s businesses is working on,” Shemara said.
Macquarie Group dropped 0.83 per cent today and is currently selling shares at $122.52 per share, as of AEST 1:58 pm.