British bank LBG clinches 4.0 billion pound rights issue

Britain's state-controlled Lloyds Banking Group said on Monday that buyers snapped up all of its heavily discounted new shares to raise 4.0 billion pounds (4.6 billion euros, 6.3 billion dollars). Lloyds Banking Group (LBG) said in a statement that investors agreed to buy all of the recently-issued new shares. The bank had earlier reported an 87-percent take-up.
LBG had launched the rights issue last month to repay part of its bailout by the British government, which owns about 43 percent of the group.