Commonwealth Bank will announce an equity raising worth around A$5 billion at its results briefing today, according to a report in the
Australian Financial Review.
The bank is set to offer shareholders one new share for every 23 existing shares, according to the report. The shares will be offered at a discount of 10 er cent to the bank's theoretical "ex-rights" price.
The move follows ANZ's recent capital raising. The Australian Prudential Regulation Authority imposed new capital requirements on the big banks banks last month, requring them to increase their mortgage risk weights for capital adequacy purposes.