BoQ supported on Investec buy

Bank of Queensland has won strong support for its $440m acquisition of most of Investec’s Australian business.

Bank of Queensland has won strong support for its $440 million acquisition of most of Investec’s Australian business, securing $183m in cash from institutional shareholders.

The regional bank yesterday said 95 per cent of institutional shareholders took up their rights in the underwritten renounceable offer of new shares priced at $10.75, a healthy level of demand for a company raising money.

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