ASX Announces $553 Million Entitlement Offer
ASX Limited (ASX) today announced that it is undertaking a fully underwritten 2 for 19 pro rata accelerated renounceable entitlement offer (with retail entitlements trading) of new ASX ordinary shares to raise gross proceeds of approximately $553 million at a price of $30.00 per share.
ASX will use the proceeds from the Entitlement Offer to:
- contribute $200 million additional equity to ASX Clear (Futures) – the clearing facility and central counterparty for all futures, options on futures and ASX listed CFDs;
- replace the existing $250 million unsecured, non-recourse debt facility of ASX Clearing Corporation (a wholly owned subsidiary of ASX) with equity capital; and fund current and future growth initiatives and support other licensed subsidiaries of ASX.
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