Great Western Parent Could Raise $100M From Bank's IPO

Great Western Bancorp in Sioux Falls, S.D., could sell up to $100 million shares of its stock during its planned initial public offering.

The $9.3 billion-asset company disclosed the amount in a regulatory filing Thursday. The shares would be sold by National Americas Holdings, a unit of National Australia Bank.

The filing did not disclose the price range for the proposed offering. The Australian bank will continue to own a majority of Great Western's common stock after the IPO.

Deutsche Bank Securities and B of A Merrill Lynch are acting as joint book-running managers and underwriters.

Great Western has 162 branches in South Dakota, Iowa, Nebraska, Colorado, Arizona, Kansas and Missouri. National Australia bought the company in 2008 and has since made a number of smaller acquisitions.