Tag: rights issue

Profits continue to rise at Standard Chartered

Profits continue to rise at Standard Chartered

London-based emerging markets bank, Standard Chartered, has today posted annual pre-tax profits of $6.122 billion (£3.76 billion) compared with $5.151 billion in 2009. The bank, which has a strong presence in Asia, said the rise was driven by a fall in loan impairment losses, which dropped 56% to $883 million. The bank has weathered the [...]

March 2, 2011 | 0 Comments More
Deutsche Bank reveals Q3 loss

Deutsche Bank reveals Q3 loss

Germany’s largest lender, Deutsche Bank, today announced a loss for the third quarter, owing to its take over of retail bank, Postbank. The bank reported a net loss of €1.2 billion (£1.05 billion), compared with a €1.39 billion profit in the same period last year. However, the figures still beat forecast of a €1.48 billion [...]

October 27, 2010 | 0 Comments More
Deutsche Bank reports Q3 loss

Deutsche Bank reports Q3 loss

Germany’s largest bank, Deutsche Bank, today saw its shares fall after issuing a profit warning. The banking giant said its takeover of retail bank, Postbank, would lead to a €2.3 billion loss. Shares fell 8% to €41.12 on the news. In order to fund the takeover, the bank has launched a €10 billion (£8.1 billion) [...]

September 22, 2010 | 0 Comments More
Deutsche Bank confirms €10bn cash call

Deutsche Bank confirms €10bn cash call

Germany’s largest lender, Deutsche Bank, has announced it will embark on a €10 billion (£8.1 billion) rights issue to take over retail bank, Postbank. The announcement comes just a week or so after the National Bank of Greece launched a rights issue. More lenders in Greece, Spain, Portugal and Italy are expected to follow suit [...]

September 13, 2010 | 0 Comments More
Deutsche Bank to tap investors for cash

Deutsche Bank to tap investors for cash

Germany’s largest lender, Deutsche Bank, is set to embark on a €9 billion (£7.4 billion) rights issue to strengthen its balance sheet. Shares in the bank were down more than 5% in pre-market trade following the announcement. According to analysts, the cash call is set to be the first in a series of fundraisings by [...]

September 10, 2010 | 0 Comments More
Prudential/AIA deal collapses

Prudential/AIA deal collapses

British insurance giant Prudential has abandoned its $35.5 billion (£24.6 billion) takeover of AIA, the Asian arm of US company American International Group (AIG). Several Prudential shareholders said they would not approve the takeover unless the Pru trimmed between $3 billion and $5 billion from the original price. Pru attempted to renegotiate the deal and [...]

June 2, 2010 | 0 Comments More
Prudential deal with AIA on verge of collapse

Prudential deal with AIA on verge of collapse

British insurance giant Prudential has failed to renegotiate the price of its takeover of AIA, the Asian arm of US company American International Group (AIG). The deal now looks set to collapse after AIA snubbed the lower price tag of $30.375 billion. It emerged last week that the Pru, which is Britain’s second largest insurer, [...]

June 1, 2010 | 0 Comments More
Prudential in fresh AIA talks

Prudential in fresh AIA talks

Prudential, which is Britain’s second largest insurer, is in fresh talks with AIA, the Asian arm of US company American International Group (AIG). Earlier this week, it was reported that as many as 20% of Pru’s UK investors will vote against the proposed takeover and, as a result, the insurance giant said it is in [...]

May 28, 2010 | 0 Comments More
Prudential presses ahead with record £14.5bn cash call

Prudential presses ahead with record £14.5bn cash call

Prudential, which is Britain’s second largest insurer, has today outlined details of its £14.5 billion ($21 billion) rights issue, which will be used to help fund its acquisition of AIA, the Asian arm of US company American International Group (AIG). Earlier this month, fears were raised over the acquisition after the Financial Services Authority (FSA) [...]

May 17, 2010 | 0 Comments More
Prudential rights issue delayed

Prudential rights issue delayed

Prudential, which is Britain’s second largest insurer, has announced today its $21 billion (£13.8 billion) cash call will be delayed due to intervention by the Financial Services Authority (FSA). The insurance giant was due to embark on the rights issue in order to fund its acquisition of AIA, the Asian arm of US company American [...]

May 5, 2010 | 0 Comments More
Bank of Ireland in €3.4bn cash call

Bank of Ireland in €3.4bn cash call

Bank of Ireland has announced plans to raise €3.4 billion (£2.9 billion) through a rights issue and private placing, in order to meet its capital needs and aid its recovery from the financial crisis. Last month the bank, which is the Irish Republic’s biggest lender, said there is no let up from the ongoing crisis [...]

April 26, 2010 | 0 Comments More
Rob Devey appointed to lead Pru’s Asia integration

Rob Devey appointed to lead Pru’s Asia integration

Prudential has today announced it has appointed Rob Devey to head up its integration of AIA, the Asian arm of US company American International Group (AIG), which it acquired in a deal worth $35.5 billion (£23.3 billion) last month. Pru, which is Britain’s second largest insurer, said the deal provided it with the opportunity to [...]

April 14, 2010 | 0 Comments More
Anglo Irish Bank reports record loss

Anglo Irish Bank reports record loss

Anglo Irish Bank, which was nationalised in January 2009, has admitted to experiencing a difficult 15-months. The bank has announced it made a loss of €12.7 billion (£11.4 billion) for the 15 months to the end of December. The news came just a day after the Bank of Ireland reported a loss of €1.8 billion [...]

April 1, 2010 | 0 Comments More
Bank of Ireland sees no end to economic crisis

Bank of Ireland sees no end to economic crisis

The Bank of Ireland has today reported a loss of €3 billion (£2.6 billion) in the first nine months of its financial year, with write-downs totalling €4 billion. In a statement, the bank said: “Revenues remain under pressure, in particular due to higher funding costs as we continue to extend the maturity profile of our [...]

March 31, 2010 | 0 Comments More
Prudential in $35.5bn deal with AIA

Prudential in $35.5bn deal with AIA

Prudential, which is Britain’s second largest insurer, has today confirmed it is to buy AIA, the Asian arm of US company American International Group (AIG), in a deal worth $35.5 billion (£23.3 billion). In a stock market statement today, Pru said the deal provided it with the opportunity to create South East Asia’s leading insurer. [...]

March 1, 2010 | 0 Comments More
Prudential in advanced talks with AIA

Prudential in advanced talks with AIA

Prudential, which is Britain’s second largest insurer, is understood to be in ‘advanced talks’ to acquire AIA, the Asian arm of US company American International Group (AIG). AIA is a key part of AIG with around 20 million customers and reports say the deal could cost about $30 billion (£19.6 billion). In order to finance [...]

March 1, 2010 | 0 Comments More
Lloyds outlines details of record rights issue

Lloyds outlines details of record rights issue

Lloyds Banking Group has today embarked on the biggest rights issue on record by asking shareholders to buy 1.34 new Lloyds shares for each one they already own. The rights issue price of 37p is slightly higher than expected but still heavily discounted at 59.5% on Monday’s closing price of 91.47p. According to Lloyds, the [...]

November 24, 2009 | 0 Comments More
Wolseley continues to struggle as profits slump

Wolseley continues to struggle as profits slump

Wolseley, which is the world’s largest supplier of plumbing and heating equipment, today reported a 45% fall in underlying profits in the three months to the end of October. The company has been badly hit by the housing market downturn and warned that its struggles continue after revenue slumped 13% to £3.4 billion in the [...]

November 18, 2009 | 0 Comments More
National Express launches £360m rights issue

National Express launches £360m rights issue

Bus and train operator National Express has today announced plans to raise £360 million via a rights issue, which will strengthen its balance sheet as it struggles under a mountain of debt of £1.5 billion. Shares in the transport group lost 7.9% at 311p in early trading today. Shares in the group have lost almost [...]

November 11, 2009 | 0 Comments More
Treasury confirms RBS and Lloyds sell-offs

Treasury confirms RBS and Lloyds sell-offs

A major overhaul of the UK banking industry has been confirmed by the Treasury today with plans for Royal Bank of Scotland (RBS) and Lloyds Banking Group to sell off bank branches. The shake-up comes as the Government hopes to create more competition within the industry. The Government holds a 70% stake in RBS and [...]

November 3, 2009 | 0 Comments More