11th Dec 2015 07:07
LONDON (Alliance News) - Standard Chartered PLC on Friday said 96.79% of the new shares on offer under its USD5.1 billion rights issue were taken up by shareholders.
The Asia-focused lender said JP Morgan Cazenove and Bank of America Merrill Lynch - the investment banks working on the rights issue - will use their "reasonable endeavours" to find buyers of the remaining shares.
Standard Chartered revealed the capital raising on November 3, alongside further measures to bolster its financial strength and adjust its strategy in a move to improve returns.
By Samuel Agini; [email protected]; @samuelagini
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