Australia's Westpac completes $1.38 bln share placement, share price falls [Reuters]
Westpac Banking Corporation (WBK)
US:NYSE Investor Relations:
westpac.com.au/about-westpac/investor-centre
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Source: Reuters
Australia's Westpac completes $1.38 billion share placement, share price falls - Reuters 2 Min Read (Reuters) - Australia’s Westpac Banking Corp ( WBC.AX ) on Tuesday said it completed a A$2 billion ($1.38 billion) share placement at a price on par with its underwritten level of A$25.32 a share, issuing all 79 million ordinary shares. The issue price was at a 9% discount to Friday’s closing price. Westpac shares, which resumed trading on Tuesday, slipped as much as 5.1% to their lowest level in more than five months. The country’s No.2 lender had announced a A$2.5 billion capital raising on Monday, as it looks to beef up its capital levels amid tougher regulatory requirements. The capital raising also includes a non-underwritten share purchase plan through which the lender is targeting to raise an additional A$500 million. Westpac on Monday reported a 15% slide in full-year cash earnings and cut its dividend for the first time in a decade, flagging weaker trading conditions ahead. It
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