and another whiner.......
Mortgage lender HBOS may launch rights issue
Sun Apr 27, 10:18 AM ET
The board of HBOS, Britain's biggest mortgage lender, will meet Monday to discuss a possible multi-billion pound rights issue due to the international credit crunch, media reported Sunday.
The firm, which declined to comment on the reports, will decide whether to raise extra money from investors ahead of its annual shareholder meeting in Glasgow, Scotland and a trading update, both on Tuesday, papers said.
Last week, the Royal Bank of Scotland, Britain's second biggest bank, appealed to shareholders to stump up 12 billion pounds to offset write-downs and its costly acquisition of ABN Amro bank.
HBOS's board will consider trying to raise between two and four billion pounds, the Sunday Times said.
The paper added that it was still possible the bank could try and ride out the credit crisis without raising extra funds.
Shares in HBOS, which claims two in five households as a customer, have fallen by around 27 percent in the last three months because of the pessimistic outlook over the housing market. |
