NAB announces after-tax gain of A$221m from Visa IPO
NAB announced that it expects an after-tax gain of approximately $221m from its shareholding in Visa Inc, following the recent Visa IPO on the New York Stock Exchange.
This comprises amounts of $181m and $40m arising in its Australian and New Zealand businesses respectively.
At this stage, due to the structure of the IPO, no gains can be recognised by the Group’s UK business, with timing for the UK participation yet to be finalised. — www.theasianbanker.com (March 31 2008)–