June 16, 2008Barclays close to raising £4 billion
by Kay Murchie

Barclays has confirmed it is close to raising £4 billion in a placing with some largest sovereign wealth funds in the world. The announcement has put an end to doubt surrounding the banking giant.

The placing is expected to be finalised within 2 weeks and will involve issuing new shares to investors at a premium to last Friday’s closing price of 318p. The bank is valued at £20.9 billion.

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