Westpac Banking Corp., Australia's largest banking company, said that U.S. holders of its American depositary shares and ordinary shares will be included in its $877.8 million rights offering.
The company said the offering, which is underwritten by CS First Boston Australian Equities Ltd., is for about 405 million new shares. It was announced May 20.
Holders of American depositary shares will get 1.5 rights for each share held of record Aug. 25. Five rights will be required to acquire one new depositary share. The subscription price for a new share, equal to five ordinary shares, will be $10.83.