Barclays Plc, the U.K.’s second-largest lender by assets, hired an additional nine banks, including JPMorgan Chase & Co., to help manage its 5.8 billion-pound ($8.9 billion) rights offering.
Barclays appointed ABN Amro Bank NV, Banco Santander SA, BNP Paribas SA, ING Bank NV, JPMorgan, Mediobanca SpA, Morgan Stanley, Royal Bank of Canada and SMBC Nikko Capital Markets Ltd. as underwriters for the sale, the London-based bank said in a statement today. They join Barclays, Credit Suisse Group AG, Deutsche Bank AG, Bank of America Corp. and Citigroup Inc.
Barclays’s rights offering, slated for next month, is poised to be the biggest by a U.K. bank since Lloyds Banking Group Plc’s 13.5 billion-pound sale in 2009. Chief Executive Officer Antony Jenkins, 52, is selling the shares after regulators identified a 12.8 billion-pound capital hole at the bank at the end of June under the stricter Basel III rules.
Investors will be able to buy one new share for every four they already own for 185 pence, 40 percent less than the closing price on July 29, the day before the sale was announced.