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Australia’s Macquarie to raise US$675 million for renewables, Reuters report

August 30, 2019

The raise comes 3 months after the investment bank reported AUS$5 billion (US$675.4 million) in excess capital, prompting UBS analysts to question the need to sell shares while Goldman Sachs analysts called the exercise a ‘surprise’. The bank is offering shares to institutional investors priced AUS$118 to AUS$123.5 each.

The lower end of the price range is a 4.5% discount to Macquarie’s US$123.51 close on Wednesday. However, the end price is likely to be higher, two Reuters sources said.

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