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Clydesdale valued at up to £2bn ahead of IPO


National Australia Bank has valued its Clydesdale subsidiary at between £1.54bn and £2.07bn, according to an IPO document.

NAB today set share prices for CYBG, Clydesdale’s holding company, at between 175p and 235p.

The bank wants to sell 25 per cent of CYBG to investors in an IPO on the London Stock Exchange from 2 February, while selling the rest to NAB shareholders.

However, NAB says it is still deciding whether to float less of CYBG and keep some shares or else pull the IPO altogether.

NAB bought Clydesdale in 1987.



NAB reveals details of Clydesdale Bank IPO

National Australia Bank, the parent company of Clydesdale and Yorkshire Bank, has unveiled details of a proposed demerger and IPO. Under the terms laid out by NAB, 25 per cent of the bank will be divested via IPO, with the remaining 75 per cent of Clydesdale shares going to existing investors. NAB shareholders will receive […]


NAB set to offload Clydesdale and Yorkshire Banks

National Australia Bank is set to let go of Clydesdale and Yorkshire Banks and float part of the business. As part of its de-merger plans, NAB will transfer 70-80 per cent of its shares in Clydesdale, which includes Yorkshire Bank, to NAB shareholders. The remaining 20-30 per cent will be floated on the stock exchange. […]


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