29th Oct 2015 17:05
LONDON (Alliance News) - Standard Chartered PLC has held discussions with banks about raising at least USD4 billion in equity, according to a report by Bloomberg citing people with knowledge of the plan.
Bloomberg said that no final decision has been made on whether to sell shares but that the London-based emerging-markets focused lender may need as much as USD8 billion to address a funding gap.
This comes as British regulators toughen scrutiny on lenders with exposure to emerging markets in a second round of stress tests.
http://www.bloomberg.com/news/articles/2015-10-29/standard-chartered-said-to-weigh-raising-4-billion-of-capital
Shares in Standard Chartered closed down 2.7% at 723.28 pence on Thursday in London.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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