Barclays rights issue - 'pretty good' take-up

Barclays has said investors bought 94.6% of shares offered in its rights offering leaving the banks managing the sale to sell about $761m of stock.

Bloomberg reports that the lender raised about £9.1bn with 3.05bn shares sold at around $3 a piece.

The banks managing the offering plan to sell the remaining 172.9m shares, the London-based bank said in a statement today.

'That’s a pretty good take up, and I think it leaves Barclays shares well placed to enjoy a good run', said Simon Willis, a banking analyst at Daniel Stewart Securities in London.

Chief Executive Officer Antony Jenkins in July said the London-based bank planned to raise around $9.4bn in the stock sale to meet stricter capital rules. The U.K.’s Prudential Regulation Authority is imposing a 3% leverage ratio to make the financial system safer.

To access the complete Bloomberg article hit the link below

Barclays Says Investors Bought 94.6% of Rights Issue Stock

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image: © Elliot Brown

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