rbs-follows-peers-and-sells-its-boc-shares

RBS follows peers and sells its BOC shares

As expected, the Scottish bank divests its entire stake in Bank of China, raising $2.4 billion of much needed capital.
After a couple of weeks of intense speculation and courting by numerous investment banks, Royal Bank of Scotland finally stepped up to the plate last night and sold all its shares in Bank of China. The HK$18.5 billion $2.4 billion transaction was well received, as evidenced by the fact that it was priced at the top end of the range for a fairly modest û at least in the current volatile markets û 7.6% discount.

RBS, which like many other European and US banks is in dire need of capital following large subprime-linked write-offs, had been expected to sell its 4.2% stake in the Chinese bank ever since it was forced to accept...
¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222