14 December 2009 / by Rebecca Sargent
Lloyds Banking Group’s latest rights issue saw acceptance for more than 95 per cent of the new shares on offer.
The record £13.5billion rights issue closed on Friday December 11, after the majority of share holders snapped up the deal.
The rights issue was launched as part of a number of capital raising plans, which aimed to buy Lloyds out of the Government’s Asset Protection Scheme it had previously been forced to enter into.
The Government has since let Lloyds Banking Group remove itself from the scheme, at a cost of £2.5billion.
Commenting on the success of the rights issue, Lloyds chief executive Eric Daniels said: “I would like to thank our shareholders for their considerable support for our capital raising programme.
“Our focus remains on delivering on our plans to become the UK’s leading financial services company, which we believe will result in significant benefits for all our shareholders.”
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