Bank of Queensland (ASX:BOQ) completes $250M placement

Company News

by Katrina Bullock

Bank of Queensland (ASX:BOQ) has successfully completed its $250 million institutional placement.

The placement was fully underwritten.

Under the placement approximately 32.1 million new fully paid ordinary shares in BOQ will be issued at a price of $7.78 per share.

BOQ’s Managing Director & Chief Executive Officer George Frazis says “[t]he funds raised will further increase BOQ’s buffer above APRA’s “unquestionably strong” benchmark and provide BOQ with additional capacity to support implementation of our strategic transformation.”

Shares in Bank of Queensland (ASX:BOQ) are trading 8.45 per cent lower at $7.91.

Katrina Bullock

Finance News Network
Katrina joined FNN in 2018. She holds a Bachelor of Laws (Honours first class), a Bachelor of Business (Distinction) and is currently undertaking a PhD in Law focused on stock exchange disclosures and corporate governance. She previously worked as a corporate lawyer in an Australian top tier commercial law firm and is currently the General Counsel for Greenpeace Australia Pacific.