ANZ Bank (ANZ AU) Nixes MYOB, Yeas SunCorp Bank, To Raise A$3.5bn of Equity

ANZ will issue A$3.5bn of equity - an insto block and a tradable rights offer to retail - to buy #7 bank SunCorp Bank. It adds heft, but the ACCC may not welcome it. Buy ANZ discounted anyway.

  • Australia and New Zealand Banking Group (ANZ) (ANZ AU) this morning made a flurry of announcements. First and foremost, ANZ withdrew from discussions on MYOB.
  • Q3 earnings ended 30 June saw revenue +5%, lending up 3%yoy, markets revenue +7%, NIM up 3bp (rising rates helps). Basel3 APRA Level2/Level1 CET1 Ratios were 11.1%/10.4%. 
  • But the big news: ANZ is buying SunCorp Bank from SunCorp (SUN AU) for A$4.9bn (1.3x NTA), and will raise A$3.5bn through a 1 for 15 renounceable rights offering.

Full analysis here:- https://www.smartkarma.com/insights/anz-bank-anz-au-nixes-myob-yeas-suncorp-bank-to-raise-a-3-5bn-of-equity?utm_source=tiger_community

By Travis Lundy, Insight Provider on Smartkarma:- https://www.smartkarma.com/profiles/travis-lundy?utm_source=tiger_community

On Australia and New Zealand Banking Group (ANZ) (ANZ AU):- https://www.smartkarma.com/entities/australia-and-new-zealand-banking-group-anz?utm_source=tiger_community

免责声明:上述内容仅代表发帖人个人观点,不构成本平台的任何投资建议。

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