By Sheri Kasprzak
Atlanta, April 29 - Adelaide Bank Ltd. said it has closed a private placement for A$99.96 million.
The company sold 9.8 million shares at A$10.20 each.
ABN Amro Rothschild was the placement agent in the offering.
Based in Adelaide, South Australia, Adelaide Bank is a holding company for a chain of banks. The proceeds from the offering will be used to acquire Goldman Sachs JBWere's Australian margin lending business for A$61 million. The remainder will be used for growth.
| Issuer: | Adelaide Bank Ltd.
|
| Issue: | Stock
|
| Amount: | A$99.96 million
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| Shares: | 9.8 million
|
| Price: | A$10.20
|
| Warrants: | No
|
| Placement agent: | ABN Amro Rothschild
|
| Settlement date: | April 29
|
| Stock price: | A$8.50 at close April 29
|
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