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Australia's Bendigo Adelaide to raise about A$300mln

Sun Aug 9, 2009 7:01pm EDT

Stocks

   

SYDNEY, Aug 10 (Reuters) - Australian regional lender Bendigo and Adelaide Bank Ltd (BEN.AX) plans to raise about A$300 million ($250 million) by selling new shares, a source with a direct knowledge of the matter told Reuters on Monday.

The new shares are being sold at A$6.75 each, a 17 percent discount to its last traded price.

The source declined to be identified as the details of the raising were not public yet.

A company spokeswoman did not offer an immediate comment.

($1=A$1.20) (Reporting by Denny Thomas;)



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