Westpac Banking Corporation Launches $2.5 Billion Capital Raising

  • Nov 04, 2019 GMT
  • Team Kalkine
  • Westpac Banking Corporation (32XA) has launched $2.5 billion capital raising.
  • The capital raising includes $2 billion of institutional share placement fully underwritten.
  • It also includes a non-underwritten share buying proposal under which the company is aiming to raise around $500 million.
  • The raised capital will provide the company with an increased buffer above the Australian Prudential Regulation Authority’s CET1 capital ratio benchmark of 10.5%2

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