May 24, 2017 / 7:23 AM / 3 months ago

BRIEF-Westpac Banking says institutional offer of 60 mln shares in BT Investment Management

May 24 (Reuters) - Westpac Banking Corp

* announces BT Investment Management (BTIM) institutional offer

* Westpac banking says fully-underwritten offer of 60 million shares in BT Investment Management to institutional investors

* Offer price range has been set as $10.25 to $10.75 per share

* Following completion of offer, westpac's ownership in btim will reduce from 29% to 10%

* Completion of offer is expected to add approximately 10 basis points to westpac's common equity tier 1 capital ratio

* Westpac banking corp says will sell remaining 10% shareholding in bt investment management in the future Source text for Eikon: Further company coverage:

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