By Scott Murdoch and Paulina Duran

HONG KONG/SYDNEY – Two people who have direct knowledge of the transaction told Reuters that Macquarie Group, an Australian investment conglomerate (OTC) had set its share price at A$194 per share to raise A$1.5 Billion.

The Sydney-based firm launched the deal on Friday to sell up to 7.9 million shares to raise A$1.5 billion as it revealed it had more than doubled its first-half profit https://www.reuters.com/article/macquarie-group-results/australias-macquarie-posts-record-profit-to-step-up-green-investments-idUSKBN2HI2XJ to A$2.04 billion. According to one source, the company raised A$194 by selling 7.73 million shares through the bookbuild in order reach its goal of raising funds.

Because the information was not made public, they asked that their sources not be identified.

Macquarie didn’t immediately reply to Sunday’s request for comment.

After Friday’s deal’s launch, trading on Australia’s Securities Exchange was stopped and shares in Australia’s largest asset management company and biggest infrastructure investor will resume trading on Monday

Macquarie’s surplus capital will be increased to A$10billion by raising A$1.5billion, and the Macquarie funds that it manages have $A27.9billion in equity “dry dust” to deploy. Chief executive Shemara Wikramanayake announced Friday.

Macquarie closed at 1.9% on Thursday, and the final price was that of Macquarie.

Macquarie also stated it would launch a retail investor-share purchase plan in order to raise unspecified funds.

Citigroup According to a weekend note, Macquarie was upgraded to buy rating and its target stock price increased by 13%.

Also, the bank stated that it will increase its Macquarie earnings forecasts by 17% in 2022 and 10% for the next two financial periods.

Its asset management arm said on Friday https://www.reuters.com/article/thyssengas-ma-macquarie-idAFL8N2RP6E8 it would buy Germany’s second-largest gas pipeline operator, Thyssengas, from DIF and EDF (PA:) Invest to use the company’s grid network to transport climate-friendly gases.

Macquarie which owned Thyssengas in 2011-2016 did not give the price. Sources close the subject said that Friday’s sales price was higher or equal to the 1 billion-1.2 million euros suggested by June sources.