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ASX completes capital raising

Market operator pulls in $214m from retail investors to seal $553 offer.
By · 11 Jul 2013
By ·
11 Jul 2013
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The market operator has pulled in $267 million in retail cash for its $553 million capital raising.

The Australian Securities Exchange offered two new shares for each 19 held by existing shareholders as part of the fully-underwritten entitlement offer.

It said there was a 75% take-up by eligible retail shareholders. 

Shares were sold at $30 apiece under the raising, launched on 11 June.

The operator also raised $268 million from institutional investors. 

The ASX will also put 2.4 million unsold securities up for offer in further round for retail investors, including those ineligible for the initial raising.  

ASX will use the proceeds to replace the existing $250 million debt facility for its subsidiary ASX Clearing Corporation.

A further $200 million will be used in the clearing facility for all futures and options trading, to enable it to meet rising international capital standards.

Remaining funds will be used to "fund current and future growth initiatives and support other licensed subsidiaries of ASX". 

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