National Australia Bank intends to sell a minority stake in its US-based subsidiary Great Western Bank (GWB) through an initial public offering (IPO) of shares in the US.
NAB plans to sell 100% of GWB over time, subject to market conditions.
NAB Group Chief Executive Officer Andrew Thorburn said plans to sell Great Western Bank were consistent with NAB’s strategy to focus on its core franchises in Australia and New Zealand.
For more information, visit our shareholder centre or download the ASX announcement.
