May 13, 2020 / 1:17 AM / 13 days ago

BRIEF-Australian Finance Group Announces $60 Mln Equity Raising

May 13 (Reuters) - Australian Finance Group Ltd:

* ANNOUNCES $60 MILLION EQUITY RAISING

* COVID-19 EXPECTED TO HAVE AN ADVERSE IMPACT ON LODGEMENTS AND SETTLEMENTS INTO 1H FY21

* FULLY UNDERWRITTEN EQUITY RAISING INCLUDES $15 MILLION INSTITUTIONAL PLACEMENT

* COVID-19 EXPECTED TO HAVE ADVERSE IMPACT ON LODGEMENTS AND SETTLEMENTS INTO 1H FY21

* EQUITY RAISING TO BE CONDUCTED AT A$1.15 PER SHARE VIA A $45 MILLION 1 FOR 5.5 ENTITLEMENT OFFER

* SEES RESIDENTIAL SETTLEMENTS TO FALL IN UPCOMING MONTHS, FROM APRIL’S STRONG LEVEL OF ACTIVITY

* PROVISIONS EXPECTED TO INCREASE FOR FY2020 RESULTS Source text for Eikon: Further company coverage:

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