Capital raisings: Time for a fair share

When he ran casino and gambling group Tabcorp Holdings, nobody expected Elmer Funke Kupper to be squeaky clean (although he was). But where there’s money there’s muck, as shareholders in Tabcorp’s demerged casino business Echo Entertainment discovered last year.Now heading up market operator ASX, Funke Kupper knows that setting a good example is vital. With its regulatory function the behaviour of ASX sends a signal. So the announcement that the company would raise $553m of capital in the fairest way possible—via a renounceable entitlement offer (see 11 Jun 13 (Hold – $35.84))—deserves credit.Unfortunately, few listed companies meet this high standard....

When he ran casino and gambling group Tabcorp Holdings, nobody expected Elmer Funke Kupper to be squeaky clean (although he was). But where there’s money there’s muck, as shareholders in Tabcorp’s demerged casino business Echo Entertainment discovered last year.

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