Powered by MOMENTUM MEDIA
Powered by MOMENTUM MEDIA
subscribe to our newsletter
Westpac completes retail shortfall bookbuild

Westpac completes retail shortfall bookbuild

Following its successful completion of a retail entitlement offer, Westpac has announced the completion of its retail shortfall bookbuild.

A trading update from the major bank confirmed that the completion of the retail shortfall bookbuild concludes Westpac’s entitlement offer.

Under the institutional entitlement offer and retail entitlement offer, Westpac has now raised approximately $3.5 billion of ordinary equity.

Advertisement
Advertisement

“I want to thank shareholders for their tremendous support for the offer – it is a great endorsement of the strength of both our franchise and strategy,” Westpac chief executive Brian Hartzer said.

According to a company statement, 22.7 million entitlements were sold in the retail shortfall bookbuild at a clearing price of $29.50 per new share (being the offer price of $25.50 per new share, plus $4.00 per entitlement).

The retail sale proceeds are expected to be paid on or about Tuesday, 24 November 2015.

“New shares to be issued under the retail entitlement offer (including under the retail shortfall bookbuild) are expected to be issued on Friday, 20 November 2015 and to commence trading on a normal settlement basis on ASX on Monday, 23 November 2015,” the group said.

Westpac completes retail shortfall bookbuild
mortgagebusiness

 

Latest News

Australia’s prudential regulator has clarified that, contrary to the views expressed by some analysts, the average balance of housing loa...

The Bank of Melbourne, BankSA and St.George Bank have slashed fixed rates across their owner-occupied and investment home loan offerings. ...

The member-owned bank has announced changes to its residential mortgage lending policy in response to APRA’s new guidance. ...

FROM THE WEB
podcast

LATEST PODCAST: Acquisitions and evolution

Do you think the mortgage market will see more consolidation this year?

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.