Bank of Queenslandâs (ASX: BOQ) shares were placed in a trading halt after the Bank announced to launch a capital raising, comprising of:
- a fully underwritten $250 million institutional share placement and,
- a non-underwritten SPP to raise ~$25 million
The funds will be used to strengthen BOQâs balance sheet, provide an increased buffer above APRAâs CET1 capital ratio benchmark and create additional capacity for BOQ to implement its strategic priorities. The Offer is expected to add ~80 to 88 basis points to Level 2 CET1 capital ratio.
Trading is expected to recommence on 26 November 2019.