Barclays Rights Issue Gets Strong Response

Barclays PLC (ADR) (NYSE:BCS) (LON:BARC) said investors bought 94.6 percent of the shares in its rights offering, with the balance offered in the wider market by underwriters. Barclays PLC (ADR) (NYSE:BCS) (LON:BARC)’s issue of new shares at a deeply-discounted price marks the biggest rights issue seen in London since 2009. PRA’s Mandate Britain’s third biggest bank and the sixth largest in Europe planned its rights issue of stock and balance through contingent capital in response to Prudential Regulatory Authority’s directive. PRA, an arm of Bank of England, said last July that Barclays Plc needed an extra 12.8 billion pounds to strengthen its capital reserves…