ASX exchange to raise capital

Australia's leading securities exchange ASX Ltd is raising A$553m (£332.6m) to contribute capital to its futures clearing facility and pay down debt, citing the need to meet new international capital standards. The announcement surprised the market as the debt facility the company is looking to refinance is not due in the near future, Nomura analyst Anthony Hoo said. The company said it also would use the capital to fund current and future growth initiatives.