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BRIEF-National Australia Bank announces delay in launching CYBG IPO

Published 02/02/2016, 05:37 pm
Updated 02/02/2016, 05:40 pm
© Reuters.  BRIEF-National Australia Bank announces delay in launching CYBG IPO

Feb 2 (Reuters) - National Australia Bank Limited :

* Confirmed CYBG Plc demerger has become effective today and announced a short delay in launching expected Initial Public Offering

* IPO is expected to proceed, with the IPO multiple times covered at 180 pence per CYBG share from International and Australian investors

* Expects to announce the final pricing for the IPO on 3 February 2016.

* CYBG is expected to have a senior standalone investment grade credit rating

* NAB and CYBG have decided to delay finalisation of the IPO for 24 hours

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