View more on these topics

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.

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

There is one comment at the moment, we would love to hear your opinion too.

  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!

Leave a comment

Close

Why register with Money Marketing ?

Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

News & analysis delivered directly to your inbox
Register today to receive our range of news alerts including daily and weekly briefings

Money Marketing Events
Be the first to hear about our industry leading conferences, awards, roundtables and more.

Research and insight
Take part in and see the results of Money Marketing's flagship investigations into industry trends.

Have your say
Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

Register now

Having problems?

Contact us on +44 (0)20 7292 3712

Lines are open Monday to Friday 9:00am -5.00pm

Email: customerservices@moneymarketing.com