Will they offload their £4 billion rights issue on new shareholders, or will the underwriters have to pick up the shortfall? Currently, the share price stands at 272. It might yet make the rights issue price of 275.
Over the last year, the decline and fall of HBOS has been very costly for its shareholders. Currently, the bank has a market cap of about £10 billion; a year ago it was closer to £37 billion.