The lack of a definite, and priced, target in Asia for ANZ to buy did not stand in the way of the bank drumming up ample demand from institutional investors for the sale of $2.5 billion in new shares yesterday. The bank also plans to sell several hundred million dollars in new shares to retail investors.The bank sold the shares at $14.40, an eight per cent discount to the share price of $15.57 on Tuesday. JP Morgan, UBS and Deutsche underwrote the share sale.ANZ is certain to use the firepower to see that it is the top bidder for some - and, perhaps to their surprise, even all - of the RBS banking businesses for sale in Asia.The bank published a brief trading update yesterday as part of the capital raising that did not shed much on the market briefing a month ago following its interim profit.The bank noted that further margin decline was likely in New Zealand.The level of losses on a couple of structured credit trades is now $400 million less than in the books at March 2009, but continues to move around in line with credit markets, while fair value gains on interest rate hedges are now less.