Challenger is one step closer to its future growth plans after reeling in $40 million from its investors following a capital raising bid.
The company set a target of $30 million and exceeded it by $10 million after more than 3500 retail shareholders contributed, Challenger chief executive, Brian Benari said.
"We are very pleased with the support shown by our retail shareholders and believe we have achieved a fair and equitable outcome across Challenger's shareholder base," he said.
Challenger's Share Purchase Plan offered Australian and New Zealand shareholders the opportunity to buy shares at a discounted rate of $7.10 each to fund the company's future growth.
