Seeking Alpha

Barclays' £5.8B fundraising 95% subscribed

  • Barclays' (BCS) £5.8B rights issue has been 95% subscribed, with the bank set to dispose of the unsold shares - an estimated £300M worth - in the market.
  • The success of the fundraising comes despite a downbeat trading update and a number of legal disclosures in the prospectus for the issue.
  • Barclays priced the shares in late July at 185 pence each, well below yesterday's close of 270.55 pence.
  • The new shares were due to start trading in London today.
  • Barclays is -1% at 270.25 pence in London. (PR)
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