Oct 21 (Reuters) - Westpac Banking Corp WBC.AX :
* WESTPAC GROUP ANNOUNCES UNDERWRITTEN SALE OF STAKE IN ZIP-
* TODAY ANNOUNCED IT WILL BE SELLING ITS 10.7% STAKE IN ZIP CO LIMITED
* OFFER PRICE FOR SHARES IS $6.65 PER SHARE
* SALE WILL ADD AROUND 8 BASIS POINTS TO WESTPAC'S COMMON EQUITY TIER 1 CAPITAL RATIO
* SETTLEMENT OF TRANSACTION IS EXPECTED TO OCCUR ON 26 OCTOBER 2020
* SALE OF ZIP STAKE BY WAY OF A FULLY UNDERWRITTEN BOOK BUILD TO INSTITUTIONAL INVESTORS
* ARE ALSO WORKING WITH ZIP ON OTHER OPPORTUNITIES FOR CONSUMER, BUSINESS, AND CORPORATE CUSTOMERS