17th Dec 2015 17:52
LONDON (Alliance News) - Royal Bank of Scotland Group PLC on Thursday said it has raised GBP150 million by selling shares, in a move designed to partly neutralise the effect on its capital position from making coupon payments on discretionary hybrid capital.
The group issued about 47.5 million new shares at a subscription price of 315.9418 pence each to raise the money, in a move to offset the impact of coupon payments in terms of core tier one capital.
"The subscription price was determined by reference to the average market price during a period since the company's interim 2015 results on July 30," RBS said. "This share issuance plan for the year is now complete."
The new shares represent an increase of about 0.4% in the company's current shares in issue.
Shares in RBS closed up 1.7% at 294.70p on Thursday.
By Samuel Agini; [email protected]; @samuelagini
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