By Elena Vardon
Metro Bank Holdings is considering its options for a capital raise but hasn’t yet made a decision as to which one it will go for, it said as its shares plunged after press reports on its plans.
At 0840 GMT, shares were down 11.9 pence, or 24%, at 38.6 pence, down 68% since the start of the year.
The U.K. lender said on Thursday that it continues to consider how to best manage its capital resources.
“The company is evaluating the merits of a range of options, including a combination of equity issuance, debt issuance and/or refinancing and asset sales,” it said in a statement responding to press speculation from late Wednesday, which sent its shares down as much as 32% to record lows in morning trade.
“No decision has been made on whether to proceed with any of these options,” it added.
The London-listed group said it continues to meet its regulatory capital requirements.
It added that it has been profitable on an underlying basis for the three quarters ended June 30 and expects to post continued momentum with growth in its personal and business current accounts as well as customer acquisition at its upcoming third-quarter update, in line with views.
Write to Elena Vardon at [email protected]
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