ANZ launches SPP

An 11% share price fall has likely reduced the desirability of participating in ANZ's share purchase plan.

Shareholders in ANZ should soon be receiving the documentation for the bank's $500m share purchase plan (SPP), which follows the $2.5bn institutional placement conducted two weeks ago (see ANZ raises $3bn on 6 Aug 15 (Hold – $32.58)). The offer will open on Monday 24 August and close on Tuesday 8 September.

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