Public offers and proposals

Current public offers or proposals for security holders of IAG or its subsidiaries.

Current offers.

On 22 February, IAG announced the establishment of a small shareholding sale facility (Sale Facility) for shareholders who held a small parcel of IAG ordinary shares (Shares) as at 5pm (Sydney time) on 17 February 2017 (Record Date) and who meet certain other requirements. The Sale Facility will allow eligible shareholders to sell their Shares without incurring any brokerage costs.  A small parcel of Shares is 84 Shares (being a parcel valued at less than $500 based on the Record Date closing Share price). As at 17 February  2017 there were 10,524 shareholders with a small parcel of Shares, totalling 333,280 Shares (based on a Share price of $5.93). The average size holding of these small parcels is 32 Shares.

Eligible shareholders were sent further information on the Sale Facility on 23 February 2017 and will have their Shares sold if they do not return the Share Retention Form included with the mailing or take certain other steps outlined in the Terms. 

Related documents

PDF iconFeb-22-Small-shareholding-sale-facility-DRP-participation.pdf
PDF iconFeb-22-SSSF-Terms-and-Conditions.pdf

Previous offers.

Select a year below to view the offers previously made to shareholders of Insurance Australia Group:

Capital Notes Offer

In November 2016 IAG announced an offer of Capital Notes which included a reinvestment offer for eligible holders of IAG’s 2012 CPS Issue. Due to strong demand, the Broker Firm offer was subsequently increased from $300 million to $350 million. The reinvestment offer closed on 16 December 2016 and the Broker Firm offer closed on 21 December 2016. 

The offer settled on 22 December 2016 when IAG confirmed the issue of 4,041,265 Capital Notes at $100 each raising $404.1 million of Additional Tier 1 Capital at a margin of 4.70% above the 3 month bank bill rate. All valid applications under the reinvestment offer were accepted in full contributing $224 million in proceeds.

IAG off-market share buy-back

On 19 August 2016, IAG announced its intention to return around $300 million to shareholders through an off-market ordinary share buy-back (Buy-Back), funded from existing cash and investments. The Buy-Back was conducted by way of an off-market tender process which closed on 7 October 2016.

Subordinated convertible notes

On 9 May 2016, IAG announced an offer of up to NZ$250 million of unsecured subordinated convertible notes (Notes) to institutional investors and New Zealand retail investors, with the ability to accept up to NZ$100 million in oversubscriptions at its discretion. The Offer opened on 19 May 2016 and closed on 10 June. IAG's announcement of the notes was accompanied by a copy of the Product Disclosure Statement and the investor presentation relating to the Offer.

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