Mystate Limited (AU:MYS) has released an update.
Auswide Bank Ltd has unveiled its unaudited FY24 financial results, revealing a significant drop in net profit after tax and a conservative loan book growth. The bank is set to merge with MyState Limited, aiming to create a larger and more diversified financial institution, while also acquiring SME asset finance lender Selfco. To support these strategic moves, Auswide is raising equity through a $12 million institutional placement and a $3 million share purchase plan.
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