Warning on dilutive raisings
Patrick Durkin and Katja Buhrer
The Australian Securities and Investments Commission has warned boards that law reform might be needed to protect retail investors after $38 billion in capital raisings discriminated against small investors last financial year.
Retail shareholders argue they have had their interests heavily diluted in capital raisings by companies such as National Australia Bank, Asciano, Elders, Sigma, ConnectEast and Transpacific Industries.
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