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LYG Lloyds Banking Group Plc

2.64
0.06 (2.33%)
04 May 2024 - Closed
Delayed by 15 minutes
Name Symbol Market Type
Lloyds Banking Group Plc NYSE:LYG NYSE Depository Receipt
  Price Change % Change Price High Price Low Price Open Price Traded Last Trade
  0.06 2.33% 2.64 2.62 2.5801 2.61 9,056,768 01:00:00

LONDON MARKETS: LSE Drops In London After Rights-issue Plans

22/08/2014 9:08am

Dow Jones News


Lloyds Banking (NYSE:LYG)
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By Sara Sjolin, MarketWatch

LONDON (MarketWatch) -- Shares of London Stock Exchange Group PLC posted big losses in the FTSE 100 on Friday after the company said it plans a rights issue to fund the acquisition of asset manager Frank Russell Co.

LSE shares dropped 1.1%, in an otherwise quiet U.K. stock market. The company said it plans to raise 938 million pounds ($1.56 billion) to fund the takeover and that shareholders will be able to buy three new shares for every 11 they already own at a 1,295 pence each, a 30.1% discount to Thursday's closing price.

More broadly in London, the FTSE 100 index was slightly lower at 6,775.94, setting it on track for a 1.3% weekly advance.

Banks were among gainers, with shares of Barclays PLC up 1%, HSBC Holdings PLC (HSBC) rising 0.9% and Lloyds Banking Group PLC (LYG) 0.7% higher.

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