Macquarie Group (ASX:MQG) - CEO, Shemara Wikramanayake
CEO, Shemara Wikramanayake
Source: Macquarie Bank
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  • Macquarie Group (MQG) shares have jumped after the company announced it had successfully closed its share purchase plan (SPP)
  • The ASX 50-lister will accept all of the 49,000 applications received, issuing 6.8 million shares to raise $1.3 billion in additional capital
  • The new shares were priced at $191.28 each — the same price under its $1.5 billion placement — with the extra funds to help MQG invest in new opportunities
  • All of the shares under the SPP will be issued on Friday, before shares begin trading on the ASX by December 6
  • MQG shares have jumped 2.19 per cent, adding more than $4 to its share price, with securities trading at $198.27 on Tuesday afternoon

Macquarie Group (MQG) shares have jumped after the company announced it had successfully closed its share purchase plan (SPP).

The ASX 50-lister will accept all of the more than 49,000 applications it received from eligible shareholders.

MQG will issue a total of 6.8 million shares under the SPP to raise an additional $1.3 billion in capital.

The new shares under the plan were all priced at $191.28 each — the same price offered to investors under Macquarie’s recently completed $1.5 billion placement.

The investment bank said it would use all of the extra funds raised under the SPP and placement to help MQG invest in new opportunities and bolster its working capital.

“We are very pleased with the positive response from our shareholders,” CEO Shemara Wikramanayake said.

“In addition to the institutional placement, proceeds raised under the SPP will provide additional flexibility to invest in new opportunities where the expected risk-adjusted returns are attractive, while maintaining an appropriate capital surplus.”

All of the shares under the SPP will be issued on Friday, before shares begin trading on the ASX by December 6.

Macquarie Group shares have jumped 2.19 per cent, adding more than $4 to its share price, with securities trading at $198.27 at 2:28 pm AEDT.

MQG by the numbers
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