THE DISTILLERY: Funke Kupper's cash pile

Some scribes are bemused by the ASX's 'excessive' capital raising, while another explains it's trying to keep its mega-merger dream alive.

ASX’s Elmer Funke Kupper has stunned some onlookers with a $553 million capital raising that looks somewhat excessive considering the balance sheet and definitely early considering its purpose. Does the boss have something else in mind? This morning, Australia’s business scribes investigate.

The Australian’s Andrew White says Kupper, who’s in his second year at the top of Australia’s market operator, has managed to have a few big things falls his way.

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