Business
Why the Bank of Queensland (ASX:BOQ) share price is up 10% to a 52-week high
The Bank of Queensland Limited (ASX: BOQ) share price has returned from its trading halt with a bang.
This afternoon the regional bank’s shares have raced 10% higher to a 52-week high of $9.25.
When the Bank of Queensland share price hit that level, it meant they were up a remarkable 57% in the space of six months.
Why is the Bank of Queensland share price racing higher?
Investors have been buying the bank’s shares today after it announced the successful completion of the institutional component of its capital raising.
According to the release, the bank raised a total of $673 million from institutional investors via an underwritten 1 for 3.34…
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