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

A new acting CEO of ANZ New Zealand has been appointed to replace David Hisco, who has been embroiled in allegations of mischaracterising pe...

CoreLogic has reported a spike in auction volumes and an improvement in clearance rates across Australia’s combined capital cities. ...

The Tasmanian bank has announced the sale of its financial planning business assets to Fiducian Group. ...

FROM THE WEB
podcast

LATEST PODCAST: Movers and shakers

Do you think the banking royal commission recommendations could negatively impact competition in the mortgage market?

Website Notifications

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