Australian Macquarie raises AU $ 1.5 billion – Sources | Invest News


By Scott Murdoch and Paulina Duran

HONG KONG / SYDNEY (Reuters) – Australian investment conglomerate Macquarie Group valued its shares at A $ 194 each to raise A $ 1.5 billion, two people with direct knowledge of the deal told Reuters.

The Sydney-based company launched the deal on Friday to sell up to 7.9 million shares to raise A $ 1.5 billion as it revealed it had more than doubled its first-half profit https : // -results / australias-macquarie-posts-record-profit-to-step-up-green-investments-idUSKBN2HI2XJ to AU $ 2.04 billion. At AU $ 194, the company sold 7.73 million bookstore shares to hit its revenue target, a source said.

The sources asked not to be named because the information was not made public.

Macquarie did not immediately respond to a request for comment on Sunday.

Shares of Australia’s largest asset manager and the world’s largest infrastructure investor are due to resume trading on Monday after trading on the Australian Securities Exchange ceased on Friday when the deal was launched.

Raising A $ 1.5 billion will bring Macquarie’s excess capital pile to nearly A $ 10 billion, while the funds he manages have a separate “dry powder” of A $ 27.9 billion. Australian dollars to be deployed, chief executive Shemara Wikramanayake said on Friday.

The final price was a 1.9% discount from the Macquarie stock’s closing price on Thursday.

Macquarie said he would also implement a stock purchase plan for retail investors to raise an unspecified amount of funds.

Citigroup raised Macquarie’s rating to a buy and raised its target price for the stock by 13% following its first-half results, according to a note released over the weekend.

The bank also said it would increase its Macquarie profit forecast by 17% for 2022 and around 10% for the next two years.

Its asset management arm announced on Friday that it would buy the second German gas pipeline operator, Thyssengas, from DIF and EDF Invest to use the company network. to transport climate-friendly gases.

Macquarie, who owned Thyssengas between 2011 and 2016, did not specify the price. Sources familiar with the matter said on Friday that the sale price was at or above the 1 billion to 1.2 billion euros suggested by sources in June.

(Reporting by Scott Murdoch in Hong Kong and Paulina Duran in Sydney; editing by William Mallard)

Copyright 2021 Thomson Reuters.

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