International Herald Tribune, 24 Nov 2008, Reuters
HONG KONG: Standard Chartered on Monday announced a £1.8 billion, or $2.69 billion, rights issue that it said will strengthen its balance sheet and give it the flexibility to take advantage of opportunities in the current turbulent markets.
The emerging markets specialist said the issue price of 390 pence per share comes at a discount of 48.7 percent to its Nov. 21 closing price.
The bank's biggest shareholder, the Singapore state investment company Temasek, plans to take up its rights and is also participating in the underwriting of the issue, the bank said.
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