The volume of rights issues by investment and commercial banks is set to smash the $50bn (â¬31.5bn) barrier this year and top $100bn this decade after Royal Bank of Scotland today confirmed plans for a record-breaking fundraising.
RBSâ £12bn (â¬15.1bn) fundraising, which confirms recent widespread speculation of a transaction to strengthen the UK bankâs capital base, was announced today, just a day before shareholders in Swiss bank UBS will vote at the annual meeting on its plan for a Sfr15bn (â¬9.3bn) rights offering.
