Westpac's holding in NZ Rural Land drops below substantial level

Westpac Banking Corporation (WBC), along with its related bodies corporate, has disclosed that its holding in New Zealand Rural Land Company Limited (NZX:NZL) has fallen below the 5% threshold, effective May 26, 2025. According to the disclosure made on May 27, 2025, WBC's total number of shares held in NZL decreased to 7,230,706, representing 4.98% of the total shares in the class. The change in holdings resulted from on-market transactions between May 16 and May 26, 2025, including purchases of 476 shares for NZD437.63 and sales of 89,969 shares for NZD85,470.55. The disclosure specifies that the entities are related bodies corporate of Westpac Banking Corporation and include BT Funds Management (NZ) Limited and Westpac Wholesale Property Trust.