AMP completes $650m capital raising

It seems investors still have faith in AMP Limited, with the company announcing to the Australian Securities Exchange today that it had successfully completed its $650 million capital raising.

It said that approximately 406.3 million new fully paid ordinary shares in AMP would be issued to new and existing institutional advisers.

AMP chief executive, Francesco De Ferrari, said the company was pleased with the strong support it had received from investors.

“The funds raised will allow us to immediately implement our transformational strategy to create a simpler, higher-growth and higher-return AMP that is focused on customers,” he said.

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