2nd May 2014 17:42
LONDON (Alliance News) - The Royal Bank Of Scotland Group PLC Friday said that it has raised GBP100 million gross from the sale of 32.8 million new shares in the market at a price of 305.3288 pence per new share.
The new shares represent an increase of about 0.5% in RBS's current issued shares.
The bank said the shares were issued to partly neutralise the impact of 2014 coupon payments on discretionary hybrid capital from a Core Tier 1 capital perspective.
RBS said earlier Friday that its first-quarter pretax profit increased to GBP1.64 billion from GBP826.0 million in the corresponding quarter a year earlier.
RBS Shares closed 9.5% higher Friday at 335.84 pence.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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