Standard Chartered rights gets 98.53% take-up

8th Nov 2010 00:58

The £3.26bn rights call announced by Standard Chartered last month may have taken the markets by surprise, but it seems to have been reasonably well supported.The emerging markets focused bank said valid acceptances in respect of 256.7m new ordinary shares were received, representing about 98.53% of the shares issued. The shares were issued at 1280p, a substantial discount to the prevailing share price, on the basis of 1 new share for every 8 shares held.