11th Dec 2015 10:44
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 - have found buyers for the 23.4 million shares that weren't sold under the rights issue. Those shares were sold at 505.0 pence each, which was higher than the 465.0p pricing of the rights issue itself.
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.
Shares in Standard Chartered were down 0.8% at 505.10p on Friday morning.
By Samuel Agini; [email protected]; @samuelagini
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