Westpac in U.S. move
NZPA Sydney Westpac Banking Corporation has strengthened its position in the United States with the sale of four million American Depository Shares (ADSs) for US$22 (SNZ36) each. The public ADS offering, underwritten by Morgan Stanley and Company, Inc., Merrill Lynch Capital Markets, and Salomon Brothers Inc., is Westpac’s first. Each ADS- represents five ordinary Westpac shares. Westpac’s chief manager, strategic planning, Mr Graeme Bowe, said the sale would increase Westpac’s profile in the United States and allow the company to step up Its business.
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Press, 18 March 1989, Page 31
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88Westpac in U.S. move Press, 18 March 1989, Page 31
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