Royal Bank of Scotland Raises GBP85 Million via Subscription
April 17 2018 - 1:08PM
Dow Jones News
By Dimitrios Kontos
Royal Bank of Scotland Group PLC (RBS) said Tuesday that it has
raised approximately 85 million pounds ($121.5 million) via a share
subscription.
The majority U.K. state-owned bank said that it will use the
funds to partly neutralize the impact of 2018 coupon payments on
discretionary hybrid capital, as it had stated with the
announcement of its 2017 results.
The company issued approximately 32.5 million new ordinary
shares at a subscription price of 261.7265 pence each, it said.
The subscription price was determined by the average market
price since Feb. 23, the company said.
Write to Dimitrios Kontos at dimitrios.kontos@dowjones.com
(END) Dow Jones Newswires
April 17, 2018 13:53 ET (17:53 GMT)
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