NAB prepares for US sell down

National Australia Bank yesterday foreshadowed plans to undertake "a potential public secondary offering" of its remaining shares in the bank's US subsidiary, Great Western.

NAB sold 31.8 per cent of what was a 100 per cent owned US arm into an initial public offering in late 2014.

The bank has long planned a complete sale of this asset, acquired in 2007.

Shares in Great Western traded at US$22.78 earlier this week, having first listed at US$18.40.