Barclays (BCS) To Raise $9.7B In Capital From Middle East Investors
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Barclays (NYSE: BCS) announced a proposal to raise up to $9.72 billion of additional capital from existing and new strategic and institutional investors. Part of the capital will be raised from Qatar Holding and entities representing the beneficial interests of HH Sheikh Mansour Bin Zayed Al Nahyan, a member of the Royal Family of Abu Dhabi.
CEO John Varley said, "The capital raising announced today enables Barclays to meet the capital issuance plan agreed with the UK authorities following the decision by the FSA to increase the capital ratio requirements for all UK banks. We are pleased to have the continuing support of Qatar Holding and Challenger, and to welcome HH Sheikh Mansour Bin Zayed Al Nahyan as a substantial new investor, as well as enabling broad participation by existing institutional shareholders. Today's capital raising provides certainty and speed of execution, and combined with the strong third-quarter performance in a volatile operating environment enables us to continue to implement our strategy and build our business by serving clients and customers around the world."
Barclays was the buyer of the now bankrupt Lehman Brothers' (NYSE: LEH) (OTC: LEHMQ) investment bank.
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