Last week, the Chancellor, George Osborne, postponed plans for sales of the government's stake in Lloyds Banking Group, until markets stabilise. National Australia Bank ( NAB ) shares rose 5.7 % after the bank priced shares of its Clydesdale Bank at 180p , thereby valuing it at £ 1.58bn , which was at the low end of estimates . The bank is hoping now to raise up to £ ##500 m in gross proceeds from the IPO of its Clydesdale and Yorkshire Bank businesses . The IPO is a milestone in NAB 's efforts to exit struggling overseas businesses in order to focus more on its core Australian and New Zealand businesses .
National Australia Bank ( NAB ) shares rose 5.7 % after the bank priced shares of its Clydesdale Bank at 180p , thereby valuing it at £ 1.58bn , which was at the low end of estimates . The bank is hoping now to raise up to £ ##500 m in gross proceeds from the IPO of its Clydesdale and Yorkshire Bank businesses . The IPO is a milestone in NAB 's efforts to exit struggling overseas businesses in order to focus more on its core Australian and New Zealand businesses .