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.