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BRIEF-National Australia Bank updates on demerger & IPO of CYBG

Published 18/01/2016, 02:33 pm
© Reuters.  BRIEF-National Australia Bank updates on demerger & IPO of CYBG
NAB
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Jan 17 (Reuters) - National Australia Bank Ltd NAB.AX :

* Demerger & IPO of cybg -IPO marketing & proposed price range

* Is pursuing demerger of 75% of cybg to nab shareholders and a divestment of remaining 25% by IPO to institutional investors

* Says proposed IPO price range has been set at between 175 pence and 235 pence per cybg share

* Says final IPO price will be determined by IPO book-build process and is expected to be announced on 2 February 2016

* May elect not to proceed with IPO or to only proceed with a partial IPO, in which case nab will retain a shareholding in cybg

* Says range equates to a cybg market capitalisation of approximately £1.54 billion to £2.07 billion

* Source text for Eikon ID:nASX5WBvDC

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