Sunday, Apr 27, 2008
First RBS, now another one topples
BBC: HBOS 'to consider rights issue'
HBOS, the UK's fourth-biggest banking group, has declined to comment on reports that it is considering asking its shareholders for extra cash.
Sunday papers reported that HBOS directors will decide on Monday whether to ask investors for as much as £4bn.
Last week the Royal Bank of Scotland said it would pursue a £12bn rights issue to reinforce its position.
Posted by little professor @ 08:52 PM (474 views) Add Comment
4 Comments
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1. plato said...
It is pretty certain this will be the path to follow for several banks as like I said before they have their shareholders by the S and Cs. Raising capital in this way is a 'smart' move. It's a High Risk situation for these shareholders whatever their decision and doubtless the Banks will be able to put more pressure on the BOE if they only acheive a fraction of the funds to make up the difference....... Devious!!!
2. alan said...
Our heroes are being smoked like Scottish salmon!
HBOS are really on the rack...they have been "saying very little" for a while, now, which reminds me of the old Bond film:
James Bond: "Do you expect me to talk, Goldfinger?"
Auric Goldfinger: "No, Mr. Bond....I expect you to die."
3. jonb said...
And this of course is the bank which has absolutely no funding crisis.
4. inbreda said...
Damn those rumours!!!