Barclays confirms it is actively considering a rights issue
Barclays PLC said Monday it is considering a rights issue to raise cash to shore up its financial position.
By Agencies |
LONDON: Barclays PLC said Monday it is considering a rights issue to raise cash to shore up its financial position.
In a trading update, the company also said that pretax group profit in May was ``well ahead'' of the run rate a year ago.
``Relative to May 2007, global retail and commercial banking continued to deliver strong growth in profits and in investment banking and investment management profits were in line,'' the company said.
Barclays gave no indication of how much money it might seek through a rights issue.
The Royal Bank of Scotland Group last week completed a 12 billion pound ($23.4 billion) right issue, the largest ever in Europe.
HBOS PLC is seeking 4 billion pounds ($7.8 billion) from its shareholders, and mortgage lender Bradford & Bingley PLC is seeking 258 million pounds ($503 million) from a rights issue.
In a trading update, the company also said that pretax group profit in May was ``well ahead'' of the run rate a year ago.
``Relative to May 2007, global retail and commercial banking continued to deliver strong growth in profits and in investment banking and investment management profits were in line,'' the company said.
Barclays gave no indication of how much money it might seek through a rights issue.
The Royal Bank of Scotland Group last week completed a 12 billion pound ($23.4 billion) right issue, the largest ever in Europe.
HBOS PLC is seeking 4 billion pounds ($7.8 billion) from its shareholders, and mortgage lender Bradford & Bingley PLC is seeking 258 million pounds ($503 million) from a rights issue.
Download
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
