Owner of Clydesdale and Yorkshire banks forced to cut float price

Discussion in 'Market News' started by Lily, Jan 18, 2016.

  1. Lily

    Lily Forum Member

    Aug 29, 2015
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    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 cut 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 at as low as £1.5bn when they are spun out of National Australia Bank (NAB). This is lower than the valuations of closer to £2bn mooted when the demerger of the business was announced in October.

    Related: Clydesdale and Yorkshire banks to be floated by Australian owner

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