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ANZ nets $720m Tier 1 capital via share purchase plan

ANZ yesterday announced the completion of its share purchase plan offer, having raised around A$720 million in Common Equity Tier 1 capital at a price of $26.50 per share. ANZ said it would now be moving to accept all eligible applications from retail investors.Shayne Elliott, ANZ's chief financial officer, said the "vast majority" of those retail investors have been offered more under the SPP offer than they would have otherwise been able to invest through an equivalent rights issue.The SPP offer was announced on 6 August 2015, in conjunction with ANZ's $2.5 billion placement to professional investors, which closed on 8 September 2015.The new ANZ shares will be allotted next week, on Thursday 17 September, and will be quoted on the Australian and New Zealand Stock Exchanges from 21 September.

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