Did Qld’s own bank give its shareholders the runaround, costing them $100 million?

Friday March 19, 2021

When Bank of Queensland hurriedly made shareholders ‘an offer they can’t refuse’, investment banks raked in millions while many existing shareholders missed out. Stephen Mayne investigates

Bank of Queensland managing director George Frazis.

If a couple of global investment banks conspired with their big institutional clients and the directors of one of our ASX-listed banks to “steal” more than $100 million in value from tens of thousands of Australian mum and dad shareholders, there would be outrage, right?

Wrong.

While “steal” is a strong word, on…

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