21st Oct 2015 18:22
LONDON (Alliance News) - Standard Chartered PLC is leaning toward raising equity, in a move that could be completed early next month, the Wall Street Journal reported on Wednesday, citing people familiar with the matter.
The Asia-focused bank has been considering whether or not to go to the market for equity capital to bolster its financial strength, amid an uptick in bad loans and tougher economic conditions in some of its key markets.
The report said that a decision has not been made. The matter is set to be discussed by the board after Standard Chartered reports its third-quarter earnings on November 3, the Wall Street Journal reported.
Shares in Standard Chartered closed down 1.2% at 721.11 pence on Wednesday.
http://www.wsj.com/articles/standard-chartered-eyes-equity-raise-next-month-1445440488
By Samuel Agini; [email protected]; @samuelagini
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