AMP opens share purchase plan
AMP Limited has opened its share purchase plan (SSP) which provides eligible shareholders with the opportunity to subscribe for up to $15,000 worth of shares at a discounted price.
The firm said that SSP was a part of the earlier announced capital raising under which eligible shareholders would receive AMP shares at the lower of $1.60 per ordinary share or 2.5 per cent to the volume-weighted average price at which AMP’s shares trade on the Australian Securities Exchange (ASX) between 30 August and 5 September.
AMP recently raised $650 million of new shareholder capital through a placement of AMP shares to institutional investors at $1.60 per share.
The SPP opens today and closes on 5 September and would be available only to resident Australian and New Zealand shareholders which held AMP shares on 7 August.
AUTHOR
Oksana Patron
Recommended for you
Money Management examines the share price of financial advice licensees over one year to 31 March, with M&A actions in the final quarter having a positive effect for two licensees.
A $3.5 million settlement for victims of Melissa Caddick has been approved by the Federal Court following an initial agreement last December.
The Reserve Bank of Australia has delivered its first rate decision since the introduction of a new board structure last month.
Digital advice provider Otivo has launched an interactive tool, powered by artificial intelligence and Otivo’s own advice engine, to help answer client questions.
