11 Jun 2013

ASX to seek $A553m in new capital

12:03 pm on 11 June 2013

Share market operator ASX is raising $A553 million to fund growth by issuing new shares to existing shareholders.

The company will offer two new shares for each 19 held by existing shareholders as part of an entitlement offer announced on Tuesday.

At $A30 for each new share, the offer is expected to raise about $A553 million in new funds.

AAP reports almost half of that amount will be used to replace a $250 million debt facility for ASX Clearing Corporation, a subsidiary company.

A further $A200 million will be used in the clearing facility for all futures and options trading, to enable it to meet rising international capital standards.

"These investments support our ambition to be globally competitive," chief executive Elmer Funke-Kupper said in a statement.

The company said it expects to make a net profit of about $A346 million in the year to 30 June.

AAP reports ASX made a net profit of $A339.2 million profit the previous year.