ANZ mulls UDC Finance IPO after sale rejected by Overseas Investment Office

Mon, 19 Mar 2018

By Sophie Boot March 20 (BusinessDesk) - ANZ Bank New Zealand said it's exploring an initial public offering for UDC Finance after a planned $660 million sale to Chinese conglomerate HNA Group was rejected by the Overseas Investment Office in December. ANZ NZ chief executive David Hisco said an IPO was "part of a range of strategic options for UDC’s future" as part of ANZ’s strategy to simplify the bank and improve capital efficiency. "While UDC is continuing to perform well and there is no immediate requirement to make decisions, afte...

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