HSBC investors back record £12.9bn issue - papers

Europe's biggest lender said yesterday it had placed 4.89bn shares with existing investors and would sell the remaining 173m shares today, raising in total £12.5bn net of expenses. The scale of the take-up confirms early indications of more than 90% support. Its success was illustrated by the closing share price on Friday of 434½p - 10.5% higher than the original ex-rights price when the issue was launched of 393¼p. The new shares were offered at a price of 254p. HSBC said the fundraising left it "well-positioned for the uncertain economic environment and for growth opportunities - both...