On 28 December 2007, St.George issued 4.0 million Converting Preference Shares II (CPS II) for $100 each, raising $400 million of non-innovative Tier 1 Capital. CPS II are non-cumulative, unsecured, converting preference shares, issued directly by St.George Bank Limited.
This offer closed on 27 December 2007 and no further CPS II will be issued. CPS II are listed on the Australian Securities Exchange under the code 'SGBPE' and may be bought and sold on-market at the prevailing market price.