Westpac has conducted a fully underwritten Entitlement Offer to raise approximately $3.5 billion.
Under the Entitlement Offer, Westpac offered Entitlements pro rata to all Eligible Retail Shareholders and Eligible Institutional Shareholders to purchase 1 new Ordinary Share (New Shares) for every 23 Ordinary Shares held at 7.00pm (Sydney time) on 19 October 2015 at an offer price of $25.50 per New Share.
The Entitlement Offer is now closed.
New Shares are expected to be issued to successful applicants under the Retail Entitlement Offer on Friday, 20 November 2015.