Bradford & Bingley - now down to 90p a share.

John_Pierpoint

Do we know what the rights price is?

Is there a lower limit to the rights price for this bank or for any other standing in the wings?

WTF?_2

John_Pierpoint wrote: »

Do we know what the rights price is?

Is there a lower limit to the rights price for this bank or for any other standing in the wings?

The 'rights' issue is offering the new shares at 82p each.

HBOS and Citigroup are underwriting the issue, meaning they agree to buy any unsold shares.

Kez100

HBOS? I thought they were applying for a rights issue too? Great, raise some cash not to increase ones balance sheet but to buy a floundering society.

WTF?_2

Kez100 wrote: »

HBOS? I thought they were applying for a rights issue too? Great, raise some cash not to increase ones balance sheet but to buy a floundering society.

Sorry - I meant UBS and Citi. Don't know why I wrote HBOS.

However, UBS are currently offering a rights issue of their own too :rotfl:

http://www.bloomberg.com/apps/news?pid=20601087&sid=aK19_vvo0XqQ&refer=home

John_Pierpoint

!!!!!!? wrote: »

The 'rights' issue is offering the new shares at 82p each.

HBOS and Citigroup are underwriting the issue, meaning they agree to buy any unsold shares.

Some people say Northern Wreck shares will be worth a quid eventually.
Now its B&B/Mortgage Express setting in the West.

Well at least I did not have any shares in the Channel Tunnel:T

Trollfever

There are currently no vacancies under my bridge.

BRITAIN’s biggest lender of buy-to-let mortgages, Bradford & Bingley, which is in the middle of a rights-issue roadshow, will stun the City this week with a profit warning and the departure of its embattled chief executive, Steven Crawshaw.
The announcement will trigger widespread concern that British banks are sitting on a time-bomb of rising mortgage arrears and mounting bad debt. It will also reignite fears about the viability of some of our top financial institutions.

http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article4039915.ece

Treadmill

60p a share by monday evening ? Theres some serious wedge to be made spreadbetting....

brit1234

"BRITAIN’s biggest lender of buy-to-let mortgages, Bradford & Bingley, which is in the middle of a rights-issue roadshow, will stun the City this week with a profit warning and the departure of its embattled chief executive, Steven Crawshaw.
The announcement will trigger widespread concern that British banks are sitting on a time-bomb of rising mortgage arrears and mounting bad debt. It will also reignite fears about the viability of some of our top financial institutions."

http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article4039915.ece

All those investor who have shorted B&B to fail are almost there. Experts on all the financial programs are also advising shareholders to throw good money after bad in the share issue. It is barely afloat and creating a whirl pool as it sinks pulling in some of the passengers.:exclamati

ad44downey

Oh dear, so the B&B share price plunge will continue. I can't see that any small investor would partake in the rights issue now

WTF?_2

Not looking too good for B&B though I have no doubt that secret behind the scenes moves are underway to somehow bail them out with public money.

With the new regulations in place it's unlikely the general public will find out what their money is being used for.


How apt - the two biggest 'house price ramping' financial institutions have imploded. NR with its policies of giving out massive amounts of money to those who couldn't really afford to borrow it and now the BTLer's best friend, B&B.


A&L next?