The Commonwealth Bank of Australia Ltd (CBA) says it has successfully completed its share placement to fund the $2.1 billion acquisition of the Bank of Western Australia (BankWest) from UK based parent HBOS plc. Shares in CBA fell over 11 per cent in early trading on Thursday, after a two day trading halt ahead of the BankWest takeover and share placement. At 1014 AEDT Thursday, CBA was down 11.41 per cent, or $5.15, to $40.00. CBA also said it was comfortable with the current range of analysts' cash forecasts for fiscal 2009, which are for a net profit of between $4.399 billion and $4.9 billion. CBA said the placement had raised $2 billion of new capital at a price of $38.00 per share,...
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