Feb 18 (Reuters) - BNK Banking Corporation Ltd BBC.AX :
* REACHED AGREEMENT WITH CERTAIN INVESTORS TO RAISE $7 MILLION BY WAY OF AN EQUITY PLACEMENT
* PLACEMENT WAS COMPLETED AT $0.60 PER SHARE
* PLACEMENT THROUGH ISSUE OF 11.7 MILLION FULLY PAID ORDINARY SHARES
* ANNOUNCE A 1 FOR 10 NON-RENOUNCEABLE PRO RATA ENTITLEMENT OFFER TO RAISE UP TO $5.7 MILLION
* CONTINUES TO BE IN DISCUSSION WITH INSURER IN RESPECT OF AMOUNTS OUTSTANDING UNDER ATM BAILMENT BUSINESS
* PRO RATA ENTITLEMENT OFFER VIA ISSUE OF UP TO 9.4 MLNSAHRES AT $0.60 PER SHARE