ASB share offer nets $200m

ASB Capital said the issue, which had originally intended to raise $150 million, closed yesterday heavily oversubscribed, with many applications being scaled.

"The response from investors has been extremely positive ," ASB, which is owned by the Commonwealth Bank of Australia, said in a statement.

The freely tradeable shares are rated A-minus by Standard & Poor's and will offer an ongoing interest rate of 1.3 percent above the one-year interest rates.

Just under 4500 investors have been allocated the shares.

The arranger of the issue was ASB Bank, with lead managers ASB Bank and UBS Warburg NZ.

The funds will be used to support the bank's ongoing growth in personal, business and rural banking, ASB said.

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

Fonterra announces Mainland Group leadership change
OCA - Oceania announces Director changes as part of Board refresh
AIA - Analyst and media webcast for FY26 interim results
The Warehouse Group confirms leaner operating structure
SML - Synlait provides half year performance update
RYM - Refreshed strategy and new capital management framework
ENS - Clarification of Gina Tuzcet’s status
BGP - 4th Quarter Sales to 25 January 2026
Contact Energy 2026 Half Year Results Presentation
February 2nd Morning Report