Wednesday, 25 June 2008
Barclay's fund raising
I wrote on Monday of the woes that currently betide HBOS. Now today Barclays' bank have decided to look to clever sovereign wealth funds for capital.
The FSA had asked them to repair their balance sheet and thanks to RBS and HBOS (and Bradford & Bingley) the markets have had enough of giving capital to stricken banks.
Not much cheer for for UK shareholders with a dilution to the investment; How times have changed since the beginning of the credit crunch.
Will the new investors do better than Singaporeans and the Chinese, who have lost half their money since investing in Barclays' just a few months ago?
Posted by CityUnslicker