The steel and metal distributor posted a net profit of $124m in the 12 months to June 30.
Heartland has entered into a non-binding memorandum of understanding with the Australia-based digital bank, Avenue Bank.
Managing money still makes money, and lashings of it, says the Boston Consulting Group in its 20th annual ‘Global Asset Management Benchmarking’ report.
As well as the equity raise, it also wants to apply to become an authorised bank in Australia.