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From Banking Day:
Commonwealth Bank completed the retail component of its entitlement offer on Friday, raising A$1.5 billion dollars and leaving it with some work to do to reach the target it set when it launched its capital raising last month.
On August 12 the bank said it would raise $5 billion of capital through a pro rata (one new share for every 23 shares held) renounceable entitlement offer at $71.50 a share.
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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
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