Auswide Bank (ASX:ABA) raises $9.2m to fund future growth via their fully underwritten FY22 dividend reinvestment plan

Henslow is pleased to have raised A$9.2m, acting as Underwriter and Lead Manager to Auswide’s Dividend Reinvestment Plan (DRP) for their FY22 final dividend. The new shares were issued at a 5% discount to the 5 day Pricing Period VWAP as per Auswide’s DRP Terms & Conditions. The funds raised will help strengthen Auswide’s Tier 1 and total capital, positioning the Company for further growth and investment.

Auswide is one of Australia’s premier mid-tier banks helping to make a big difference for their customers and communities. For over 50 years Auswide has provided an extensive range of personal and business banking products and services issued directly or in partnership with leading service providers via branches, strategic relationships and online & digital channels.

The Company delivered FY22 loan book growth of 7.3% to $3.9 billion as well as an increase in FY22 Statutory Net Profit After Tax of $26.1m (up 8.2% on FY21). The Company expects strong growth to continue into FY23, with Q1FY23 delivering record levels of loan approvals.

This is the first transaction Henslow has advised on for Auswide and we look forward to continuing to support Auswide as they further solidify their position as one of the premier mid-tier banks in Australia.

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