Tuesday, Apr 22, 2008
RBS unveils the largest rights issue in Europe.
FT: RBS unveils record £12bn rights issue
RBS today unveiled emergency plans to repair the damage the credit crisis has wrought on its balance sheet by raising £12bn from shareholders and £4bn by selling assets, including its insurance arm.Unveiling the largest rights issue in Europe, RBS said it had ditched its strategy of operating a more thinly capitalised balance sheet than rivals.
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