Macquarie raises capital for UK expansion

Macquarie Bank yesterday raised $625m (€459.7m) from a capital increase to fund international expansion, nudging the Australian stock market up 0.05%.

The Australian bank sold 8.62 million new shares at A$87 each, a 2.8% discount to its last traded price of A$89.50. The issue was "significantly oversubscribed", according to chief financial officer Greg Ward.

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