HBOS Mulls Potential $8B Rights Issue
Britain's fifth largest bank will make a final decision today on whether to follow Royal Bank of Scotland's example and raise funds from shareholders
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The board of HBOS, Britain's fifth biggest bank, is to hold last-minute talks on whether to stage a rights issue, in a fund-raising effort that could seek as much as £4bn from shareholders.
HBOS's directors, led by the chairman, Lord Stevenson, and the chief executive, Andy Hornby, will make a final decision on a rights issue today, ahead of the trading update that the bank will publish tomorrow morning prior to its annual general meeting, which begins at lunch-time in Glasgow.