LSE looks to fund Frank Russell deal with new shares

|By:, SA News Editor

London Stock Exchange (OTCPK:LDNXF) has announced that it is looking to raise £938M ($1.6B) to part fund the acquisition of stock index unit Frank Russell.

LSE will offer 74,347,813 new shares at a price of 1,295 pence, a 30.1% percent discount to yesterday's closing price.

The deal would give London Stock Exchange third place in the booming ETF market, behind market leaders S&P Dow Jones and MSCI.

Russell ETFs: IWM, TZA, TNA, UWM, SPXS, IWF, SKF, URTY, IWD, TWM, IWO, IWN, RWM, SRTY, IWV, IWB, VTWO, VONE, IWW, IWZ, VTWG, UKK, ROLA, RTLA, FBG, THRK, UKF, SKK, EWRS, ONEK, TWOK, VTHR, VONG, VTWV, SMLV, UVT, VONV, UVG, EWRI, SJH, UWC, LGLV, TWQ, SJF, FIBG