Bradford & Bingley underwriters left holding stock

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Bradford & Bingley underwriters left holding stock

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08-25-2008, 12:43 PM

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Bradford & Bingley underwriters left holding stock

Troubled buy-to-let lender, Bradford & Bingley (B&B), confirmed last week that 27.8% of its new shares, which were on offer at 55p each, have been taken up by investors. This left underwriters, Citigroup and UBS, to place the remaining 597 million new shares, worth £328.3 million, by last Friday.However, the underwriters were left holding 71.16% [...]

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