Barclays will sell £300m of leftover stock on the open market today after almost 95% of shareholders took the opportunity to buy up discounted shares during its rights issue.
The bank will today try to find a home for shares not snapped up by existing investors during its £6bn fundraising. Barclays is raising the cash from a rights issue to fill a capital shortfall, announcing the cashcall on 30 July. Barclays offered investors the chance to buy one new share at 185p for every four shares they owned. It will raise £5.82bn pounds, after expenses of £132m, to help plug a capital shortfall identified by the regulator. The sale of the 'rump' of leftover shares and the start of trading for the new shares effectively marks the end of the bank's fundraising pr...
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