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National Australia Bank unveils rights issue
It will offer 194m new shares, raising A$5.5b as it boosts capital ahead of rule changes
Add BT as a preferred sourcePublished Thu, May 7, 2015 · 09:50 PM
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Sydney
NATIONAL Australia Bank Ltd (NAB) said that it plans to raise A$5.5 billion (S$5.8 billion) in the country's biggest ever rights issue, as the lender boosts capital ahead of regulatory changes and an exit from its UK business.
The lender will offer 194 million new shares, equal to about 8 per cent of issued capital, at A$28.50 each, a 19 per cent discount to Wednesday's closing price.
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