18th Sep 2013 09:36
LONDON (Alliance News) - Barclays PLC shares were the biggest decliners on the FTSE 100 Wednesday morning after the shares in the bank's massive GBP5.8 billion rights issue started trading on the London Stock Exchange, diluting the existing share issue.
The company's shares were down 6.2% at 280.25 pence Wednesday morning.
Barclays announced the rights issue at the end of July after regulators found a GBP12.8 billion shortfall in its capital. The bank opted to raise GBP5.8 million of this by issuing one new share for every four existing shares owned by shareholders, at an issue price of 185 pence a share.
By Steve McGrath; [email protected]; @SteveMcGrath1
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