The Halifax Bank of Scotland is going to investors for £4 billion in new money. The bank has announced a two for five issue of new shares at a 45% discount to yesterday's (28th April) closing price. HBOS, through its Halifax subsidiary, is Britain's biggest mortgage lender. The rights issue follows last week's £12 billion issue from Royal Bank of Scotland.
Despite increased market liquidity provided by the Bank of England and recent reductions in base rates, mortgage rates continue to rise.
Showing posts with label Rights Issue. Show all posts
Showing posts with label Rights Issue. Show all posts
29 April 2008
22 April 2008
RBS Rights Issue Tops £12 billion
According to the Financial Times, RBS' rights issue will top £12 billion, much bigger than the £5 billion reported last week. The announcement of the scale of the issue forced the FTSE to fall by 0.5% in today's early trading. This will be Europe's biggest ever rights issue!
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