There were newspaper report that the sale would help them add 8 basis point on their tier 1 capital. I was expecting the sale after the huge fine as offloading investment with profit gives you double benefit one it reduces capital requirement two it increases profit for the current year so I think with huge fines and high provisions this was the most prudent decision on their part. If the market takes it as a negative sentiment I will top up because I feel that Larry knew that this was coming.
Westpac sells Zip stake, page-94
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$2.09 |
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Mkt cap ! $2.712B | |||
| Open | High | Low | Value | Volume |
| $2.32 | $2.35 | $1.99 | $77.79M | 37.16M |
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| No. | Vol. | Price($) |
|---|---|---|
| 2 | 11000 | $2.08 |
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| Price($) | Vol. | No. |
|---|---|---|
| $2.09 | 160178 | 10 |
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