BOQ raises $89.7M via share purchase plan: Aus shares 0.7% lower at noon

BOQ raises $89.7M via share purchase plan: Aus shares 0.7% lower at noon


The Australian share market opened slightly lower this morning and lost ground over the first 2 hours of trade. This comes despite positive leads from US markets. Every sector has made losses this morning with Industrials weighing heaviest on the market.

The S&P/ASX 200 index is tracking 45 points or 0.7 per cent lower at 6,776. On the futures market the SPI is 38 points lower.

Company news

The Bank of Queensland (ASX:BOQ) has successful completed a share purchase plan to raise approximately $89.7 million. Around 12.3 million ordinary shares will be issued at an issue price of $7.27 per Share. The bank has decided to accept all valid applications from eligible shareholders in full with no scale back. It expects the Shares to be issued on 2 January 2020 and to commence trading on ASX on 3 January 2020.The share purchase was announced in late November in conjunction with the bank’s fully underwritten $250 million institutional placement. Shares in the Bank of Queensland (ASX:BOQ) are trading 0.7 per cent lower at $7.34.

Equity firm, Teaminvest Private Group (ASX:TIP) has announced that Whites Diesels Australia has been placed into voluntary administration. The company owed Teaminvest Private Group $200,000. It is unclear at this stage whether any part of this loan will be recoverable. Additionally, a wholly-owned subsidiary of Teaminvest Private Group is the manager of two private wholesale trust funds, whose investors have an interest in Whites Diesels Australia. It confirmed that while the subsidiary is entitled to a share of profits earned by investors in those trusts, it bears no exposure to any losses. Shares in Teaminvest Private Group (ASX:TIP) last traded at 80 cents.

Best and worst performers

The best-performing sector is the Healthcare, down 0.4 per cent, while the worst performing sector is Industrials, shedding 1.5 per cent.

The best performing stock in the S&P/ASX 200 is Pilbara Minerals (ASX:PLS) rising 5.7 per cent to 28 cents, followed by shares in NRW Holdings (ASX:NWH) Pro Medicus (ASX:PME).

The worst performing stock in the S&P/ASX 200 is Sydney Airport (ASX:SYD), dropping 4 per cent to $8.81, followed by shares in Austal (ASX:ASB) and Transurban Group (ASX:TCL).

Commodities and the dollar

Gold is trading at US$1,515 an ounce.
Iron ore futures are pointing to a rise of 0.9 per cent.
One Australian dollar is buying 69.85 US cents.
Copyright 2019 – Finance News Network

Source: Finance News Network

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