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Mystate Limited ( (AU:MYS) ) has provided an update.
The Supreme Court of New South Wales has approved the acquisition of Auswide Bank Ltd by MyState Bank Limited, a subsidiary of MyState Limited, through a scheme of arrangement. Upon implementation, eligible Auswide shareholders will receive MyState shares, with trading adjustments scheduled, marking a significant shift in Auswide’s operational structure and strategic direction in the banking sector.
More about Mystate Limited
Auswide Bank Ltd, established as Australia’s tenth and Queensland’s third Australian-owned bank in 2015, initially operated as a building society since 1966. It offers a wide range of personal and business banking products and services through branches, strategic partnerships, and online channels. The bank holds an Australian Credit Licence and an Australian Financial Services Licence, and is an Authorised Deposit-taking Institution under the supervision of the Australian Prudential Regulation Authority.
YTD Price Performance: 1.35%
Average Trading Volume: 170,325
Technical Sentiment Consensus Rating: Sell
Current Market Cap: A$501.5M
For a thorough assessment of MYS stock, go to TipRanks’ Stock Analysis page.
