RBS Shareholders Take 95.1% of Stock in Rights Offer

by Dave Keating | June 9, 2008 at 02:54 am

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In the biggest European share sale and the first one in the UK sinc ethe economic turmoil began, RBS has seen shareholders buy 95 percent of stock, giving it an additional 11.6 billion pounds.

Royal Bank of Scotland Group Plc saidshareholders bought 95.1 percent, or 11.6 billion pounds ($22.9billion), of stock in the biggest European share sale and the firstby a U.K. bank since the credit-market seizure.

Investors took up 5.8 billion new shares at 200 penceapiece, acquiring 11 new shares for every 18 held, theEdinburgh-based company said in a statement today. UnderwritersGoldman Sachs Group Inc., Merrill Lynch & Co. and UBS AG willseek buyers for the remaining 299.4 million shares, RBS said.