AMP in $200 million capital raising


AMP Limited is seeking to raise $200 million through the issue of issue of securities listed on the Australian Securities Exchange (ASX).
The company announced the capital raising on the ASX today, saying the new, subordinated and unsecured debt securities would be called AMP Subordinated Notes 2.
AMP chief financial officer Colin Storrie said the funds raised would optimise the efficiency of AMP's balance sheet, while increasing the company's flexibility to meet general funding requirements and support the refinancing of subordinated debt of the AMP group.
The offer is expected to open on 14 November.
Recommended for you
The alternative investment manager has signalled its intentions to repackage an existing fund into a second private equity vehicle, targeting both listed and unlisted opportunities.
The acquisition of Mason Stevens by Adamantem Capital has reached completion, as the wealth platform looks to increase investment into its services for Australian wealth practices.
Platinum Asset Management and VanEck have both announced name changes to multiple of their ETFs to clarify their complexity.
Active ETFs are gaining traction in Asia-Pacific as wealth managers seek to blend the low-cost fees of passive with active management.