Australia's CBA to raise A$2 bln in shares
Published: 07 Oct 2008 17:58:46 PSTSYDNEY, Oct 8 - Commonwealth Bank of Australia <CBA.AX> plans to raise A$2 billion ($1.43 billion) by issuing new ordinary shares to fund its acquisition of British bank HBOS's <HBOS.L> Australian unit BankWest, market sources said on Wednesday.
Initial pricing suggested an offer price of A$38 to A$43 per share, one of the sources said.
Credit Suisse, Citi, CommSec and JPMorgan are leading the Tier 1 sale expected to be completed in the next couple of days. ($1=A$1.40)
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