National Australia Bank Limited (ASX:NAB)'s Chairman Ken Henry, says high volatility in equity markets is not likely to derail the initial public offering of Clydesdale Bank PLC in the first week of February 2016. National Australia Bank shareholders will vote on the demerger of Clydesdale Bank on January 27, 2016. The deal will see 75% of Clydesdale go to National Australia Bank shareholders in the form of new shares, while the remaining 25% will be offered to institutional investors via an IPO on the London and Australian stock exchanges.

Clydesdale's IPO price will be announced on February 2, 2016. As of February 8, 2016 National Australian Bank Ltd's shareholders voted in favour of a demerger of Clydesdale Bank Plc