April 14 (Reuters) - QBE Insurance Group Ltd (QBE) :
- TO LIFT REGULATORY CAPITAL FROM 1.6X PCA CURRENTLY TO AROUND 1.9X
- LAUNCHES A FULLY UNDERWRITTEN US$750M INSTITUTIONAL PLACEMENT
- PREMIUM RATE MOMENTUM AND UNDERLYING PREMIUM GROWTH ACCELERATED DURING 1Q20
- LAUNCHES A NON-UNDERWRITTEN SHARE PURCHASE PLAN TO RAISE UP TO US$75M
- PLACEMENT WILL BE CONDUCTED AT A$8.25 PER NEW SHARE
- QTRLY GROSS WRITTEN PREMIUM US$4,533M
- PLACEMENT WILL RESULT IN ABOUT 145.5 MILLION NEW SHARES BEING ISSUED, OR ABOUT 11.1% OF ISSUED CAPITAL
- 1Q GROSS WRITTEN PREMIUM INCREASED BY MORE THAN 9% TO US$4,533M
- NONE OF GROUP'S RETAINED CREDIT IS TRADING DISTRESSED
- CURRENT PCA MULTIPLE INCLUDES ABOUT US$350M OF UNREALISED CREDIT SPREAD LOSSES THAT ARE EXPECTED TO UNWIND
- CAPITAL PLAN WILL POSITION QBE TO WITHSTAND A RANGE OF SEVERE ECONOMIC AND INVESTMENT MARKET DOWNSIDE SCENARIOS
Source text https://reut.rs/34AhIRF
(([email protected];))
News: QBE QBE Insurance Group Launches Fully Underwritten US$750 Mln Institutional Placement
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Last
$22.71 |
Change
-0.040(0.18%) |
Mkt cap ! $34.30B | |||
| Open | High | Low | Value | Volume |
| $22.52 | $22.75 | $22.52 | $3.832M | 169.2K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 26 | 4274 | $22.70 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $22.72 | 1264 | 18 |
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| QBE (ASX) Chart |