Metro Bank Shares Fall Further as Short-Sellers Pile Pressure
- Lender is the most heavily shorted stock on the London market
- Metro is attempting to raise 350 million pounds from investors
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Metro Bank Plc shares slumped to a fresh low as investors bet that the struggling British lender will fall further as it attempts to raise 350 million pounds ($455 million).
The bank is the most shorted company on the London market, with 13% of its shares out on loan to funds speculating on its stock price falling, according to data compiled by Bloomberg. Many investors have raised their bets against the bank since February, when it revealed problems in the way it classified certain home loans.