IOOF Holdings Announces Completion of Placement

IOOF Holdings Limited (ASX: IFL; OTC: IOOFY) (“IOOF”) has successfully completed an institutional placement (“Placement”) of approximately 43.5 million ordinary shares at an issue price of A$10.60 per share, to raise A$461 million. The Placement was undertaken to partially fund the acquisition of ANZ’s OnePath Pensions and Investments business and Aligned Dealer Groups business (“ANZ Wealth Management”) for cash consideration of approximately A$975m (subject to a completion adjustment).

Christopher Kelaher, Managing Director of IOOF, said, “The Placement was oversubscribed and very well supported by our existing institutional shareholders, with strong demand also coming from new institutional shareholders. We look forward to completing the Share Purchase Plan component of the offer, which opens on Wednesday 25 October 2017”.

“The acquisition of ANZ Wealth Management represents a unique and exciting opportunity. We are very pleased to see such strong support from our shareholders, which is an endorsement of our strategic direction”.

Settlement of the Placement is scheduled to occur on Monday 23 October 2017, with the Placement shares being allotted and quoted on the Australian Securities Exchange (“ASX”) on Tuesday 24 October 2017.

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