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Insurance Australia Group Ltd raises A$1.2 bln through institutional placement


Monday, 16 Dec 2013 05:21pm EST 

Insurance Australia Group Ltd:Completes the bookbuild to raise A$1.2 bln in ordinary equity through an institutional placement at a price of A$5.47 per ordinary share.Says the equity raised through the placement, along with the other capital raising initiatives announced on Dec. 16.Says it will be used to fund the purchase of the insurance underwriting businesses of Wesfarmers Limited. 

Company Quote

6.54
0.07 +1.08%
1 Sep 2014