MORTGAGE bank Bradford and Bingley yesterday
asked shareholders for £300m in a bid
to bolster its balance sheet.
The rights issue, which will see shares offered
at a 48 per cent discount to the company's
share price on Tuesday, follows similar
moves by larger banking groups Royal Bank
of Scotland and Halifax Bank of Scotland.
Bradford & Bingley denied as recently as
last month that it was planning to carry out
a cash call.
However, it said that the move would reinforce
its position as one of the UK's "better
capitalised" banks.
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