Macquarie and UBS’ equities desks were out to clean up ANZ Banking Group’s $3.5 billion rights issue on Thursday night.
The brokers launched an auction for the right to 36.4 million shares, to be sold on behalf of ANZ retail shareholders that did not tip into the recent entitlement offer.
Macquarie and UBS were calling for bids from $18.90 a share, which would make the up-for-sale parcel worth at least $688 million.At $23 a share, the parcel would be worth $840 million.The auction was due to close at 7pm, Sydney time, according to terms sent to potential buyers.
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