Connect with us

Hi, what are you looking for?


Barclays to raise £7.3 billion from investors

LONDON, October 31 – British bank Barclays said on Friday it would raise 7.3 billion pounds (11.7 billion dollars, 9.3 billion euros), most of which would come from oil-rich Middle East investors.

The new capital means that Barclays will not have to receive funding from the British government, unlike some of its competitors, amid the international financial crisis.

The announcement ensures that Barclays meets higher capital targets which were set by Britain\’s Financial Services Authority earlier this month.

"The Board of Directors of Barclays today announces a proposal to raise up to 7.3 billion pounds of additional capital from existing and new strategic and institutional investors," the bank said in a statement.

Sovereign wealth fund Qatar Holding will invest two billion pounds, and has subscribed for warrants to purchase a further 1.5 billion pounds of ordinary Barclays shares.

Abu Dhabi\’s Sheikh Mansour Bin Zayed Al Nahyan, meanwhile, will provide 3.5 billion pounds, and has also subscribed for 1.5 billion pounds in ordinary share warrants.

Challenger, which is owned by Sheikh Hamad Bin Jassim Bin Jabr Al-Thani, the chairman of Qatar Holding, will invest a further 300 million pounds into Barclays.

The remaining 1.5 billion pounds will be issued to other institutional investors.

Click to comment

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...


NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...


NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...


NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...


NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...