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Mystate Limited ( (AU:MYS) ) has issued an announcement.
MyState Limited has announced the issuance of A$100 million in Subordinated Medium Term Notes, set to mature in May 2035. These notes are expected to be classified as Tier 2 regulatory capital under the Australian Prudential Regulation Authority’s framework. This move is significant for MyState as it strengthens its capital base, potentially enhancing its financial stability and market positioning. The notes come with conditions that allow for conversion into ordinary shares or a write-off if MyState is deemed non-viable by APRA, highlighting the company’s strategic approach to managing regulatory requirements and investor interests.
The most recent analyst rating on (AU:MYS) stock is a Buy with a A$4.31 price target. To see the full list of analyst forecasts on Mystate Limited stock, see the AU:MYS Stock Forecast page.
More about Mystate Limited
MyState Limited is an ASX-listed non-operating holding company of a diversified financial services group, which includes MyState Bank, Auswide Bank, SelfCo, and TPT Wealth. The company operates within the financial services industry, with MyState Bank and Auswide Bank regulated by the Australian Prudential Regulatory Authority. Additionally, MyState Bank, TPT Wealth, and Auswide Bank hold Australian Financial Services Licences issued by the Australian Securities and Investments Commission.
Average Trading Volume: 204,480
Technical Sentiment Signal: Strong Buy
Current Market Cap: A$657.8M
For detailed information about MYS stock, go to TipRanks’ Stock Analysis page.