rights issue

RBS bailout: what does it mean for you?

Rebecca Atkinson — Fri, 28 Nov 2008 11:33:41 +0000

The government has been forced take a 58% stake in RBS after shareholders rejected the banking group’s £15 billion share offer. In a statement, RBS said that only 0.24% of new shares offered to investors were taken up, leaving the government – and the taxpayer – to pick up the remaining 22.9 billion shares and take control of 57.9% of the bank.

Government takes majority stake in RBS

Rebecca Atkinson — Fri, 28 Nov 2008 09:56:14 +0000

The government has taken a 58% stake in the Royal Bank of Scotland after shareholders rejected the banking group’s £15 billion share offer.

In a statement this morning, RBS said that only 0.24% of new shares offered to investors were taken up, leaving the government – and the taxpayer – to pick up the remaining 22.9 billion shares and take control of 57.9% of the bank.

B&B shareholders revolt

Rebecca Atkinson — Mon, 06 Oct 2008 12:55:14 +0100

Angry Bradford & Bingley shareholders are demanding an investigation into the bank’s nationalisation amid concerns that they will receive no compensation.

What does the future hold for battered banks?

Chris Thomas — Mon, 28 Jul 2008 16:04:40 +0100

Anyone that has been investing in banking stocks over the past year will probably be nursing heavy losses because the share prices of many leading names have collapsed on the back of the devastating credit crunch.

HBOS rights issue flops

Rebecca Atkinson — Mon, 21 Jul 2008 10:46:58 +0100

Shareholders in HBOS have snubbed the banking giant’s offer of buying new shares in the firm.

HBOS, the UK’s largest mortgage lender, has confirmed that just 8.29% of the new shares offered in its £4 billion rights issue have been taken up.

Bradford & Bingley increases cash call

Rebecca Atkinson — Fri, 04 Jul 2008 10:25:57 +0100

Bradford & Bingley has expanded its rights issue to £400 million after the American investor it had lined up to take a stake in the business got cold feet.

Barclays confirms rights issue

Rebecca Atkinson — Mon, 16 Jun 2008 10:03:46 +0100

Barclays has confirmed that it is looking at carrying out a rights issue.

The bank is believed to be planning to raise an additional £4 billion in order to bolster its book and help mitigate the ongoing impact of the credit crunch on funding. In a statement made at 7am this morning, Barclays said a rights issue is “currently under active consideration” by its board.

RBS reports strong take-up of rights issue

Rebecca Atkinson — Tue, 10 Jun 2008 13:53:43 +0100

The Royal Bank of Scotland (RBS) has thrown down the gauntlet for those banks hoping to raise money from selling shares to investors at a discount to help them weather the effects of the global credit squeeze.

The bank, the first in the UK to issue shares for investors, has reported that it has already sold more than 95% of its £12 billion target.

What next for Bradford & Bingley?

Rebecca Atkinson — Tue, 03 Jun 2008 12:15:39 +0100

The news that Bradford & Bingley's profits have taken nearly a 50% hit in the first four months of 2008 may have set alarm bells ringing for many people. After all, it wasn't that long ago that we all witnessed the run on Northern Rock that resulted in its nationalisation.

Bradford & Bingley announcement sparks share plunge

Rebecca Atkinson — Mon, 02 Jun 2008 09:56:31 +0100

Bradford & Bingley's profit warning yesterday sparked a day of losses for Britain's biggest banks, with billions of pounds wiped off their value during the morning and afternoon trading.