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Lloyds announces £13.5bn rights issue

Lloyds Banking Group is selling 36.5 billion new shares in a bid to raise £13.5bn in new capital.

The rights  issue, the largest in the UK, will see the banking giant sell the shares at 37p, a 59.5 per cent discount on Monday’s closing price.

The new shares will represent 57.3 per cent of the enlarged share capital of Lloyds Banking Group.

In October Lloyds announced plans to raise £21bn in capital.

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  1. Richard Brown, Managing Director, Moneynotion Limi 24th November 2009 at 12:38 pm

    And all because they missed the poisoned challice of HBOS when it came to due diligence!

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