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NAB to lift share offering to $2.1 bln-sources

Sun Nov 9, 2008 8:06pm EST

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SYDNEY, Nov 10 (Reuters) - National Australia Bank Ltd (NAB) (NAB.AX), Australia's top lender by assets, plans to enlarge its share offering to up to A$3 billion ($2.1 billion) due to strong demand, two sources familiar with the deal said on Monday.

Earlier, NAB said it plans to raise A$2 billion ($1.4 billion) in a share placement to strengthen its balance sheet and take advantage of organic growth opportunities.

The fixed price sale was offered at A$20.00 each, a near 10 percent discount to NAB's last traded price. ($1=A$1.46) (Reporting by Denny Thomas;) ((denny.thomas@reuters.com; +61 2 9373 1812; Reuters Messaging: denny.thomas.reuters.com@reuters.net))


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