AMP successful completion of Share Purchase Plan

Company News

by Rachael Jones

AMP (ASX:AMP) has successfully completed its Share Purchase Plan completing the launch of its capital raising on the 8th August comprised of a fully underwritten $650 million institutional placement and non-underwritten SPP.

A total of approximately $134.1 million was raised under the SPP, with 83.8 million new shares to be issued to eligible applicants on Friday 13 September 2019, at an issue price of $1.60 per New Share — the same price paid by institutional investors under the Placement.

AMP confirms that all valid applications will be satisfied in full and that there is to be no scale-back applied.

The SPP and Placement will result in a total of approximately $784 million raised under the capital raising.

Shares in AMP (ASX:AMP) are trading 0.42 per cent lower at $1.79.