Lloyds Announces Record Rights Issue

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Lloyds Announces Rights Issue

Lloyds Banking Group plc has announced the biggest rights issue in UK history, due on 27 November 2009.

The rights issue will offer shareholders the right to subscribe for new shares in the company at the rate of 67 new shares for every 50 shares held, at a subscription price of 37p.

The bank is hoping to raise some £13.5 billion from its current shareholders, in a move which would shatter the current rights issue record of £12.5 billion, set by HSBC earlier this year.

If you have an open position on Lloyds Banking Group plc on the ex date (27 November 2009), you will be affected by the rights issue.

Updated: 25/11/09

*Largest single provider of CFD accounts in the UK, Investment Trends UK Financial Spread Betting & CFD Trading Report (November 2010).

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