The following is from the MST Report in May this year..
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International Bank of Australia (IBoA)IBoA is currently continuing its Series A capital raising, with additional significant subscriptions currently under final negotiation. IBoA has flagged that if additional funds aren't received imminently that IBoA will request to return its restricted license to APRA, where NOV will retain its pro-rata share of the regulatory capital of ~$4m, which is ~$3.5m currently. NOV flagged that we should hear more regarding this within the next month.
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So this is what I’m thinking if Bank is not to go forward.
However, I’m an optimist. I think IBOA will go forward.
Cheers Anton
