Suncorp Group Limited
(ASX:SUN) says it has successfully completed the book build for its proposed offer of convertible preference shares.
Suncorp has allocated $500 million worth of convertible preference shares to syndicate brokers and institutional investors and declared the offer officially open.
The insurance and banking group announced it intended to raise about $350 million last week, to strengthen its capital position.
The offer will be made available to institutional investors, current shareholders and the general public.
Suncorp Group boosted its net profit by 60 per cent to $728 million in fiscal 2012.
