- Online banking company BNK Banking Corporation (BBC) has entered a trading halt ahead of an upcoming capital raise
- There are no details on how much the company is aiming to raise or where the funds will be spent at present
- Trading in company shares will be paused until Wednesday, May 26, or when more details on the raise are released to the market, whichever one comes first
- On the market, BNK last traded at 83.5 cents per share
BNK Banking Corporation (BBC) has entered a trading halt ahead of an upcoming capital raise.
So far. there are no details on how much the company is aiming to raise or where the funds will be spent.
Under the halt, trading in company shares will be paused until Wednesday, May 26, or when more details on the raise are released to the market, whichever one comes first.
BNK Banking is a digital banking company with two key operating divisions in banking and mortgage broking.
Last week, the company announced it was expecting an underlying group net profit after tax to be in the range of $6.7 million to $7 million.
BNK funded settlements were $53.4 million in April, increasing the aggregation loan book to $53.3 billion.
Earlier this year, BNK secured $250 million for its residential mortgage warehouse program, named the Bullion Warehouse Trust No.1.
The funding is from Blackstone and an unnamed large bank.
On the market, BNK last traded at 83.5 cents per share.