Announcement
Collapse
No announcement yet.
Barclays stock hit by £5.8bn cash call to plug shortfall
Collapse
X
Collapse
-
Barclays stock hit by £5.8bn cash call to plug shortfall
Barclays will issue £5.8bn in new shares as part of a move to plug a £12.8bn capital shortfall created by new regulatory demands. The bank will also issue £2bn of bonds that are turned into shares or wiped out if the bank gets into trouble. The size of the share sale is much larger than analysts had expected. Barclays' stock closed nearly 6% lower. Barclays chief executive Antony Jenkins said the plan would not reduce lending to small businesses and households. Last month, Mr Jenkins had argued against the fresh capital requirements, warning that if Barclays had to meet this tough measure it could be forced to scale back its lending to small businesses and households.....Read more hereTags: None
You must be logged in to post a comment.