Companies
B&B shareholders back rights issue
By Mark Roberts
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Posted 17 July 2008 @ 10:00 am GMT
Shareholders at mibank Bradford & Bingley voted in favour of the troubled banks plan for a £400 million rights issue.
REUTERS/Stephen Hird
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bingley bradford issue rights shareholders
Bradford and Bingley profit hit by subprimeShares in the bank have tumbled in recent weeks. At 9:38 am on Thursday B&B shares were just over 52.75 pence per share. The proposed rights issue price is 55 pence per share.
The rights issue has also been supported by underwriters, investors and six major banks.
This article is copyrighted by the International Business Times.
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