Bank of Queensland Limited (ASX:BOQ) has raised a total of $400 million in a series of share sales to both retail and industrial investors.
The bookbuild will fund the bank’s acquisition of Investec Australia’s specialist finance and leasing business which cost $440 million.
The acquisition and share offering comes in the wake of increased first half profits.
Bank of Queensland made a net profit of $135 million in the first half of the year to the end of February.
