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Royal Bank of Scotland says rights issue 95 percent subscribed

Royal Bank of Scotland says rights issue 95 percent subscribed

Royal Bank of Scotland says that shareholders strongly backed the biggest rights issue in British corporate history.
The bank said Monday that shareholders snapped up 95 percent of the shares issued to raise 12 billion pounds (US$23.7 billion) to bolster its finances after hits from its exposure to the U.S. subprime mortgage crisis and last year's costly buyout of Dutch bank ABN Amro.
The 95 percent takeup matched the size of the shareholder vote in favor of the rights issue on May 14.


Updated : 2021-05-11 09:53 GMT+08:00