Westpac offers new shares at A$16 each
Published: 08 Dec 2008 19:28:52 PSTSYDNEY, Dec 9 - Australia's Westpac Banking Corp <WBC.AX> is planning to price its A$2.5 billion ($1.66 billion) share issue at A$16 per share, said market sources who are close to the issue.
The fully underwritten share placement would boost Westpac's balance sheet after its recent all-share acquisition of St George Bank <SGB.AX>, Westpac said.
Westpac was not immediately available for comment.
JPMorgan, UBS, and Morgan Stanley are underwriters, Westpac said in an earlier statement.
($1=1.510 Australian Dollar) ((Reporting by Cecile Lefort, editing by Mark Bendeich))
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