Barclays sets out share issue plan

Barclays Building Sign

Barclays has said investors need to be on its share register by 13th September to qualify for the launch of its £5.8bn rights issue.

Reuters reports that the bank said on Wednesday the entitlement to take part in the issue will be the close of business on 13th September.

Barclays will publish a prospectus for the share issue after that time.

The issue is the biggest by a British bank since 2009. The bank is raising the money after Britain's financial regulator said it needed an extra £12.8bn to cushion it against potential market shocks.

The rights issue will offer existing shareholders one new share at £1.85 for every four they currently own, a 40% discount to Barclays' share price on the day before it was announced.

To access the complete Reuters article hit the link below

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image: © Elliot Brown

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