Barclays' shareholders take just 19% of new shares

18 July 2008

Barclays' shareholders have opted to buy just 19 percent of new shares issued by the bank.

Despite the lender having raised $9 billion (£4.5 billion) last month from major international investors, shareholders had only signed up to a fraction of the shares on offer.

This occurred despite a discount on the market price of around nine percent being offered to existing shareholders at a value of 282p per share.

Barclays' principle investor now looks set to become the Qatar Investment Authority, which owns about six per cent of the banks total equity.

On Tuesday, the shares were trading at a near-decade low of 260.5p, but leapt to 310p early this afternoon.

But with shareholders only purchasing 267.1 million of new shares, the bank will look to boost its balance sheets on the remaining 1.14 billion new shares through anchor investors.

Sumitomo Mitsui Financial Group, Japan's third largest bank, was also one of the largest investors alongside the Qatari investment with a £500 million contribution to the fundraising.

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