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.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.