11th May 2015 16:44
LONDON (Alliance News) - Barclays Bank PLC Monday said it is launching an accelerated bookbuilt offering of 15.7 million existing shares in OneSavings Bank PLC.
Barclays said that bookbuilding will commence immediately, and books are expected to close on May 12, although Barclays reserves the right to close the books at any time.
A further announcement will be made following completion of the bookbuilding and pricing of the transaction, it said.
The shares represent approximately 6.5% of OneSavings' issued share capital.
Barclays added that in parallel with the bookbuild, a number of existing shares in OneSavings equal to approximately 19.4% of the number to be sold under the bookbuild process, will be distributed to certain investors.
OneSavings will not receive any proceeds from the transaction, Barclays said.
Shares in OneSavings closed up 1.6% at 311.00 pence on Monday.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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