Westpac Share Purchase Plan Results Westpac Banking Corporation (Westpac) today announced the results of its Share Purchase Plan (SPP).
Westpac today announces the completion of its Share Purchase Plan (“SPP”) following the closing of the SPP on 2 December 2019. Find the investing style that's right for you. However, you should be aware that while we are an independently owned service, our comparison service does not include all providers or all products available in the market.Some product issuers may provide products or offer services through multiple brands, associated companies or different labelling arrangements. Outside of reading and researching he spends many a late night watching the English Premier League and Seinfeld reruns.© 2009 - 2020 The Motley Fool Australia Pty Ltd. All rights reserved.ACN: 146 988 052 | Australian Financial Services Licence (AFSL): 400691
Full details are available on request. Read the latest Issued Capital General news from Westpac Banking Corp (ASX:WBC) Your application for credit products is subject to the Provider's terms and conditions as well as their application and lending criteria. Westpac Share Purchase Plan withdrawal option. Acceptance by insurance companies is based on things like occupation, health and lifestyle. The cut to the dividend, and institutional placement and SPP has left the bank with an unquestionably strong capital position as well as a buffer for any regulatory changes and litigation that may emanate from the royal commission. The share purchase plan (SPP) opened on Tuesday, but to be eligible you need to have been a registered Westpac shareholder by 1 November, with the offer closing at 5pm, 2 December. "To compound the issues for WBC, cost pressures appear to be rising which isn’t ideal in an environment of declining revenues," said Wayne. While our site will provide you with factual information and general advice to help you make better decisions, it isn't a substitute for professional advice. 28 November 2019. Each company boasts strong growth prospects over the next 3 to 5 years, and most importantly each pays a generous (and fully franked) dividend! These may change or we may introduce new ones in the future. James is part of the CFA Institute’s Chartered Financial Analyst program and hopes it teaches him how to become an astute investor which allows him to help others with their own investing. If you're a shareholder, this means you can now buy up extra Westpac The first $2 billion was allocated to institutional investors (this is complete) while $500 million is now available to regular Westpac shareholders at a discounted price, up to a maximum value of $30,000 each.
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However, in light of the AUSTRAC scandal and following discussions with ASIC, this morning Westpac announced that it will give investors the option to withdraw from the share purchase plan. We value our editorial independence and follow finder.com.au has access to track details from the product issuers listed on our sites.
Read the disclosure documents for your selected product or service, including the Consider its appropriateness to these factors before acting on it. Westpac and a number of Australia's major banks have been refunding customers who paid for services without receiving them, as revealed in the Banking Royal Commission. It is for information purposes only. Finder may receive remuneration from the Provider if you click on the related link, purchase or enquire about the product. Applications for approximately A$442 million worth of new fully paid Westpac ordinary shares (Westpac Shares) were received from eligible shareholders. "My experience is that many investors are too overweight the banks and they would have been better off on a total returns basis by having some reliable growth stocks in their portfolio such as the major health care names," said Gable. This can make it difficult for consumers to compare alternatives or identify the companies behind the products. Westpac Banking Corp is seen as most likely to go for the instant fix.
Westpac Share Purchase Plan Offer.
Read the disclosure documents for your selected product or service, including the Under the share purchase plan, eligible Westpac shareholders will have the opportunity to apply for up to $30,000 in new, fully-paid ordinary shares to raise a targeted $500 million.
Westpac will now push ahead with its non-underwritten share purchase plan to raise a further $500 million. The SPP Shares have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the “U.S. For more information please see our The Motley Fool Australia, PO Box 4635, Ashmore, Qld 4214James Mickleboro has been a Motley Fool contributor since late 2015. This is a discount of 9.2% to its last close price.
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