Bank of Queensland to raise $400m in share sale

Brisbane-based lender is selling shares to help fund the $440m it will pay for Investec’s Australian financing and leasing businesses

Bank of Queensland is seeking to raise $400 million in a share sale to pay for the acquisition of Investec Bank Australia’s specialist financing and leasing businesses.

The Brisbane-based has lender agreed to pay a total consideration of $440m for Investec’s asset finance, leasing and deposit book, including the estimated capitalistion of the businesses of $230m.

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