Mortgage lender Bradford & Bingley has seen its share price slide this morning despite formally denying rumours it is planning a rights issue.
Weekend reports suggested the bank needed to strengthen its balance sheet following difficulties in the current credit crunch. Although Bradford & Bingley issued a firm denial to the London Stock Exchange this morning, its share price has dipped 3.14% to 162p. “Contrary to press speculation today, Bradford & Bingley announces that it is not intending to issue equity capital by way of a rights issue or otherwise,” the statement reads. “Bradford & Bingley has a strong capital base, above its regulatory requirements, and as a result of the board's conservative approach, has funded its busi...
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