HBOS’s £4bn rights issue looks under pressure as once again the shares dipped below the 275p issue price. UBS has raised concerns that the Banks mortgage arrears will increase over the second half of the year. Also a US hedge fund has declared its short position in the stock, showing that it has bet that the share price will fall. (more…)
The Royal Bank of Scotland (RBS) will annouce that over 90% of its shareholders have signed up for its £12bn rights issue. With growing negativity in the banking sector following recent bad news, including a poor set of results from the Bradford & Bingley, there had been concerns that investors would shy away from the rights issue. (more…)
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