Original article by Clancy Yeates, James Thomson, Jonathan Shapiro
The Australian Financial Review – Page: 15 & 18 : 17-Jun-15

TS Lim of Bell Potter suggests that Westpac’s move to trim its 59 per cent stake in BT Investment Management is primarily aimed at lifting the bank’s capital ratio. Westpac plans to offload about 82 million shares in BT, which will raise between $A600m and $A700m while reducing its stake in the listed fund manager to 31-40 per cent. The bulk of Westpac’s BT shares will be offered to institutional investors via a bookbuild, while about 27 million will be made available to the retail shareholders of both Westpac and BT.

CORPORATES
WESTPAC BANKING CORPORATION – ASX WBC, BT INVESTMENT MANAGEMENT LIMITED – ASX BTT, BELL POTTER SECURITIES LIMITED, BT FINANCIAL GROUP PTY LTD, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, STANDARD AND POOR’S ASX 200 INDEX, STANDARD AND POOR’S ASX ALL ORDINARIES INDEX