IOOF foreshadows acquisition capital raise
IOOF Limited has requested a two-day trading halt on the Australian Securities Exchange (ASX) to allow for a possible capital raising.
The request for the further trading halt comes as speculation swirls around IOOF moving to acquire the wealth management businesses of MLC Limited.
IOOF told the ASX today that it was seeking the two day trading halt “for the purpose of considering, planning and executing a capital raising comprising an institutional placement, an accelerated, non-renounceable entitlement offer and a share purchase plan being conducted to partially fund a potential acquisition”.
IOOF said it expected to make an announcement as soon as possible, and prior to the opening of trading on 2 September.
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