Australian Finance Says Commonwealth Bank of Australia Becomes a Substantial Shareholder; Shares Down 6%

MT Newswires Live

02/24

Australian Finance Group (ASX:AFG) received notice that Commonwealth Bank of Australia (ASX:CBA) and its affiliated entities became a substantial holder of the company on Monday, according to a Tuesday Australian bourse filing.

Commonwealth Bank of Australia owns 13.7 million shares in the company, representing a 5.05% total voting power, the filing said.

Shares of Australian Finance Group fell nearly 6% in recent Tuesday trade.

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