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.