Standard Chartered raises £3.3bn through rights issue

Standard Chartered has raised £3.3bn through a rights issue of new stock to boost its balance sheet amid a slowdown in China’s economy, the Asia-focused bank revealed on Friday.

The issue, launched in November, was supported by some of the lender’s largest shareholders including Singapore state investor Temasek Holdings

The offer received acceptances for about 96.79% of the new shares issued, the group said.

"We will continue to focus on executing our strategy and restore our bank to sustainable, profitable growth, and deliver good returns for our shareholders," group chief executive Bill Winters said in a statement.

Shares fell 0.86% to 504.80p at 0958 GMT.