Barclays To Raise $8.9 Billion With Help From Sovereign Wealth Funds
Jun 26th, 2008 | By Mike Caggeso | Category: Featured, Financial News, International InvestingStarving for capital and hell-bent on retaining its handsome dividend, Barclays PLC (ADR: BCS) plans to raise $8.9 billion (4.5 billion pounds) by selling shares to investment banks and sovereign wealth funds around the world.
As much as 1.58 million shares will be sold to existing investors China Investment Bank and Singapore’s Temasek Holdings Pte. Ltd., as well as new investors Japan’s Sumitomo Mitsui Banking Corp., Qatar Investment Authority and Challenger – a fund that represents “the beneficial interests” of Qatar’s royal family.