National Australia Bank is pushing ahead with its planned selldown of its stake in US agribusiness lender Great Western Bank.
NAB offloaded more than a quarter its Great Western stake through an initial public offering in October, and a secondary public offering is now in the works, though NAB is yet to decide on the scale or timing of the sale.
"The potential offering is consistent with NAB's statement from August 2014 that it intends to divest itself of its holdings in GWB, as market conditions allow," Great Western said.
NAB bought Great Western for around $A1 billion in 2008, and raised $US288 million from last year's float.
The US lender has operations in seven states in the US midwest.
The selloff is part of NAB's plans to exit its overseas holdings and focus on its core Australian and New Zealand businesses.
Chief executive Andrew Thorburn said in 2014 the bank was looking at ways to offload its troubled UK operations, including a possible IPO.
The company's Clydesdale bank has been a significant drain on NAB's performance over many years, and was last week hit with an STG20.7 million ($A40 million) fine over the mis-selling of insurance products.
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