SocGen rights issue oversubscribed

JP Morgan and Morgan Stanley have successfully completed the €5.5bn ($8.4bn) emergency rights issue for Société Générale, after receiving more than €10bn in orders.

The French bank said in a statement it had received total subscription orders of €10.2bn ($15.6bn) and will use the funds raised to "continue its development in business and regions with high potential."

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Venture Debt Firms Tilt Toward Mature Companies