HBOS’s share price bounced back to end the week at 321.75p, up 13.69% on the day. Earlier this week there had been concerns about the success of HBOS’s £4bn rights issue as the shares traded below the 275p rights issue price. On Wednesday, the shares closed at a low of 258p. Dresdner Kleinwort and Morgan Stanley, the underwriters of the issue, will be able to breathe a temporary sigh or relief as they were facing a £250m paper loss had the share price not recovered. Although they may not be out of the woods just yet.

Tags: dresdner kleinwort, hbos, morgan stanley

This entry was posted on Saturday, June 14th, 2008 at 5:35 am and is filed under Banking, Stocks and Shares. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.