AMP opens share purchase plan

AMP Limited has opened its share purchase plan (SSP) which provides eligible shareholders with the opportunity to subscribe for up to $15,000 worth of shares at a discounted price.

The firm said that SSP was a part of the earlier announced capital raising under which eligible shareholders would receive AMP shares at the lower of $1.60 per ordinary share or 2.5 per cent to the volume-weighted average price at which AMP’s shares trade on the Australian Securities Exchange (ASX) between 30 August and 5 September.

AMP recently raised $650 million of new shareholder capital through a placement of AMP shares to institutional investors at $1.60 per share.

The SPP opens today and closes on 5 September and would be available only to resident Australian and New Zealand shareholders which held AMP shares on 7 August.

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