WBC Completes Institutional Placement of $2 Billion

  • Nov 05, 2019 AEDT
  • Team Kalkine

Westpac Banking Corporation (ASX: WBC) has successfully completed institutional placement of fully underwritten $2 billion institutional share placement.

About 79 million new fully paid ordinary shares will be issued under the placement at the price of $25.32 per share and all the shares were assigned to sophisticated and institutional investors in the placement bookbuild.

  • The New Shares issued will not receive the 2019 final dividend;
  • News Shares are expected to settle on 7 November 2019 and commence trading on the ASX on 8 November 2019.

At AEST 01:03PM, the stock was trading at $26.990 per share, down by 3.192% from its previous close.

 

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