AMP completes $650m capital raising

amp capital raising AMP Limited australian securities exchange ASX

9 August 2019
| By Mike |
image
image
expand image

It seems investors still have faith in AMP Limited, with the company announcing to the Australian Securities Exchange today that it had successfully completed its $650 million capital raising.

It said that approximately 406.3 million new fully paid ordinary shares in AMP would be issued to new and existing institutional advisers.

AMP chief executive, Francesco De Ferrari, said the company was pleased with the strong support it had received from investors.

“The funds raised will allow us to immediately implement our transformational strategy to create a simpler, higher-growth and higher-return AMP that is focused on customers,” he said.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

Interesting. Would be good to know the details of the StrategyOne deal....

4 days 2 hours ago

It’s astonishing to see the FAAA now pushing for more advisers by courting "career changers" and international recruits,...

3 weeks 2 days ago

increased professionalism within the industry - shouldn't that say, FAR register almost halving in the last 24 months he...

4 weeks 1 day ago

Insignia Financial has made four appointments, including three who have joined from TAL, to lead strategy and innovation in its retirement solutions for the MLC brand....

2 weeks 4 days ago

A former Brisbane financial adviser has been charged with 26 counts of dishonest conduct regarding a failure to disclose he would receive substantial commission payments ...

3 days ago

Pinnacle Investment Management has announced it will acquire strategic interests in two international fund managers for $142 million....

2 days 3 hours ago