HSBC Holdings PLC on Tuesday launched a rights issue to raise 12.5 billion pounds ($17.5 billion) to bolster its capital position and avoid the strings that come with resorting to state aid.
HSBC said the issue, first announced two weeks ago, offers 5.06 billion shares at 254 pence each on a basis of five new shares for 12 existing shares.
Today 1 GBP = 1.401 USD
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