ASX Limited
(ASX:ASX) is in a trading halt as the market operator launches a capital raising aimed to net more than half a billion dollars.
The ASX says it’s undertaking a fully underwritten offer to raise proceeds of around $553 million, with shares to be sold at $30 each.
ASX will use the proceeds to replace the existing $250 million unsecured, non-recourse debt facility of ASX Clearing Corporation with equity capital, as well as to contribute $200 million additional equity to ASX Clear.
Remaining funds will be used to fund current and future growth initiatives and support other licensed subsidiaries of ASX, it says.
The group says its shares will remain in a halt for three days, until the outcome of the raising becomes clear.
The ASX generated a net profit of $171.1 million in the first half of the current financial year.
