SYDNEY, Oct 14 (Reuters) - Westpac Banking Corp WBC.AX , Australia's No. 2 lender by market value, on Wednesday said it will raise A$3.5 billion ($2.54 billion) in a fully underwritten rights issue to boost new stricter capital rules.
It will issue new shares at A$25.50, a 16.1 percent discount to Tuesday's close of A$30.44.
It also announced a full-year cash profit of A$7.8 billion, up 3 percent from a year ago and expects to announce a dividend of 94 cents a share.
Trading in Westpac shares has been halted and is expected to recommence on Monday, Oct. 19. ($1 = 1.3797 Australian dollars)