2nd Sep 2016 16:52
LONDON (Alliance News) - State-owned lender Royal Bank of Scotland Group PLC on Friday said it has issued 35.5 million shares at 196.9239 pence per share, raising GBP70.0 million.
Shares in Royal Bank of Scotland closed up 1.8% at 204.53p on Friday.
The lender said the subscription price was determined by reference to the average market price during the period since its interim results on August 5.
The shares were issues for the purposes of partly neutralising the impact of 2016 coupon payments on discretionary hybrid capital from a Core Tier 1 capital perspective, it said.
The lender noted the shares represent an increase of around 0.3% in its current issued share capital, with admission expected to take place next Thursday.
By Hannah Boland; [email protected]; @Hannaheboland
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