BOQ's Share Purchase Plan Opens

  • Dec 03, 2019 AEDT
  • Team Kalkine

The share purchase plan (SPP) announced by Bank of Queensland Limited (ASX: BOQ) on 25 November 2019 has opened today. With this, the eligible shareholders would be able to apply for new fully paid ordinary shares to a maximum of $30,000 without any brokerage or transaction cost.

This would be open for eligible custodians as well, who can participate in support of specific eligible beneficiaries.

The SPP follows the institutional placement on 26 November 2019. BOQ aims to raise $25 million through this SPP and can scale back application depending on the demand or issue an elevated amount, at its absolute discretion.

Issue price per share under SPP would be lesser of:

  • $7.78 per share.
  • The VWAP of shares traded on the ASX during five trading days up to the closing date of the SPP less a 2% discount which would be rounded off to nearest cent.

 

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