LONDON/ZURICH: Shareholders of British bank Barclays backed a $10 billion fundraising on Monday and Standard Chartered sought new funds too as
Barclays chairman Marcus Agius said investors had voted in favour of the British bank’s controversial 7 billion pound ($10.44 billion) fundraising.
A final tally will be released later. Barclays had been expected to get the 75 percent approval it needed for the plan to go ahead. However, there is likely to be a high number of abstentions in protest, analysts and fund managers have said.
Top five investor Legal & General last week said it would vote in favour of the plan, even though it does not like the structure of the controversial deal, which over-rode traditional shareholder pre-emption rights in favour of new investors.
Earlier on Monday, emerging markets bank Standard Chartered said it planned to raise 1.8 billion pounds ($2.7 billion) in a rights issue.
The London-based lender said the funds would allow it to take advantage of the turmoil, and distanced itself from banks facing funding difficulties.