NAB doubles size of shares issue

Lender lifts size of convertible preference share issue from $750m to $1.5bn.

National Australian Bank has increased the size of its convertible preference share issue from $750 million to at least $1.5 billion as a result of strong demand.

In a release to the Australian Securities Exchange, NAB said the issue had the ability to raise more or less than the initial $1.5 billion, with the proceeds to be used for general corporate purposes.

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