Challenger capital raising brings in $40m
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.
Recommended for you
The future strategy and management for the $444 million Platinum Capital listed investment company has taken another turn at the LIC’s annual general meeting.
A new funds distribution business has launched in Australia, seeking to bring institutional offerings to the wholesale market and led by co-founder of Jamieson Coote Bonds.
Higher interest rates could be on the cards for 2026 after monthly CPI inflation for October showed an increase of 3.8 per cent.
Global actively managed ETF assets hit a record high in October, according to independent research and consultancy firm ETFGI, breaking the record set the previous month.
