Barclays shares plunge as launches huge rights issue | Bangkok Post: news

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Barclays shares plunge as launches huge rights issue

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Barclays set out on Tuesday to raise pound sterling5.8 billion by offering shares at a massive discount to shareholders so as to fall into line with demands from regulators.  

Barclays cash machines in London. Barclays set out on Tuesday to raise £5.8 billion by offering shares at a massive discount to shareholders so as to fall into line with demands from regulators.

The issue, worth $8.9 billion or 6.7 billion euros, will be offered at almost half price and is part of a far bigger effort to plug a vast hole of pound sterling12.8 billion in the balance sheet.

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