National Australia Bank could set value of planned flotation at just 1.5bn compared with previous estimate of £2bn Share market turbulence has forced the Australian owner of Clydesdale and Yorkshire banks to slash the price at which their shares will be floated on the London Stock Exchange next month.
The banks – to be known as CYBG – could be valued as low as £1.5bn when they are spun out of National Australia Bank (NAB), much lower than the valuations of closer to £2bn mooted when the demerger of the trade was announced in October. Related: Clydesdale and Yorkshire banks to be floated by Australian owner Continue reading...
Source: theguardian.com