Arab Today, arab today barclays close to new shares offer worth £58 bn
Last Updated : GMT 20:32:10
Arab Today, arab today
Arab Today, arab today

Barclays close to new shares offer worth £5.8 bn

Arab Today, arab today

Arab Today, arab today Barclays close to new shares offer worth £5.8 bn

London - AFP

Barclays will launch a £5.8-billion rights issue next week to help meet a regulatory demand to plug a hole in its balance sheet, the British bank said on Wednesday. The bank will sell the new shares on September 13 priced at 185 pence each -- a steep 40-percent discount to the price of its traded stock just before it announced the rights issue on July 30. Barclays shares were trading 0.52 percent lower at 283.6 pence in late morning deals on London\'s benchmark FTSE 100 index, which was down 0.50 percent at 6,435.92 points. The sale of shares worth the equivalent of $9.0 billion or 6.9 billion euros will help to plug a balance sheet gap totalling £12.8 billion. Barclays said on Wednesday that the new shares would be available from the close of business a week on Friday. In June, the Bank of England\'s Prudential Regulation Authority (PRA), which supervises Britain\'s banking sector, ordered Barclays to find £12.8 billion of additional capital following a review of top lenders. The PRA watchdog told Barclays to increase the amount of equity it holds against total assets, a measure called the leverage ratio and which provides banks with a cash buffer in case of future financial crises. Barclays said that the rights issue, and separate measures to shrinka parts of its business and maintain current profit levels, should push its leverage ratio to above 3.0 percent, the minimum required by the PRA, by June 2014. Ian Gordon, an analyst at Investec financial group, told AFP that the Barclays would probably eventually return the new capital from the rights issue to shareholders, arguing that it should have not been required to increase its buffer. \"I do not recognise the existence of a £12.8-billion hole\" he said. \"The rights issue is entirely the consequence of the implementation of the arbitrary and bank-specific June 2014 deadline for meeting a new and contrived measure of leverage.\" Gordon added: \"This will be the biggest UK bank equity-raising since HSBC and Lloyds in 2009, yet this is purely transitory ... raising capital that is not required under Barclays pre-existing 2015 capital plan, only to give it back again (to shareholders) after June 2014.\"

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today barclays close to new shares offer worth £58 bn Arab Today, arab today barclays close to new shares offer worth £58 bn

 



Arab Today, arab today
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Top Yemen commander killed

GMT 09:55 2017 Wednesday ,22 February

Top Yemen commander killed
Arab Today, arab today Media host Mona Iraqi stresses her show's success

GMT 15:32 2017 Wednesday ,22 February

Media host Mona Iraqi stresses her show's success

GMT 10:37 2017 Tuesday ,21 February

Most Asia markets up as rally presses ahead

GMT 05:34 2017 Tuesday ,21 February

7 firms to list on 2nd Saudi stock board

GMT 19:53 2017 Monday ,20 February

Large stocks fall pushing down Nairobi bourse

GMT 18:36 2017 Monday ,20 February

Heavy selling drags Oman shares lower

GMT 06:16 2017 Monday ,20 February

Bank shares lift Tadawul
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today To hold social dialogue over secondary school

GMT 07:43 2017 Wednesday ,22 February

To hold social dialogue over secondary school
Arab Today, arab today 63-Year-Old Woman Delivers Baby

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Janat pleased for issuing 'Good Morning'

GMT 06:41 2017 Monday ,20 February

Janat pleased for issuing 'Good Morning'
Arab Today, arab today Small ponds have outsized impact

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 06:34 2017 Sunday ,19 February

Ahmed Fahmy stresses he did not ignore singing

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection

GMT 14:06 2017 Friday ,17 February

London to tax old cars

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 05:15 2017 Tuesday ,21 February

Omega 3 can reduce asthma cases

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday