MyState DRP underwriter pulls out

John Kavanagh
Bell Potter Securities has withdrawn as the underwriter of MyState Ltd's dividend reinvestment plan.

Bell Potter advised MyState that it was exercising its termination rights under the A$7 million partial underwriting agreement "following significant market volatility".

MyState said that the DRP "remains active" for its interim dividend, which will be paid on April 2.

The Tasmanian-based financier reported a rise in ROE, net interest margin and net profit over the half-year to December 2019.