🤑 It doesn’t get more affordable. Grab this 60% OFF Black Friday offer before it disappears…CLAIM SALE

RPT-Australia's CBA announces $3.7 bln fully underwritten rights issue

Published 12/08/2015, 08:41 am
Updated 12/08/2015, 08:46 am
© Reuters.  RPT-Australia's CBA announces $3.7 bln fully underwritten rights issue
CBA
-

(Repeats to additional subscribers with no changes to text)

SYDNEY, Aug 12 (Reuters) - Commonwealth Bank of Australia CBA.AX unveiled a A$5 billion ($3.65 billion) rights issue on Wednesday as its annual profit met expectations, completing a major round of fundraising by Australia's "Big Four" lenders amid fears of a house price bubble.

CBA, the country's No. 2 lender by assets, announced a fully underwritten 1-for-23 rights issue at an offer price of A$71.50, a 12.9 percent discount to its last trading price. This brings the total funds raised by Australia's major banks since May to $A17 billion.

CBA posted a 5 percent rise in full-year cash profit to $A9.14 billion, compared with A$8.68 billion a year ago. The forecast, according to a consensus of six analysts polled by Reuters, was for A$9.15 billion. Total dividend for the year was A$4.20, an increase of 5 percent. ($1 = 1.3693 Australian dollars)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.