You will be be redirected to the blog in a moment...
Or you can click the link below to proceed:
All you need to know about the DBS right issue
DBS has announced a 1-for-2 rights issue at S$5.42 (45% discount to lastclosing, 35% discount to theoretical ex-rights price) to raise S$4b.Largest shareholder, Temasek Holdings, will sub-underwrite 33.3% of rightsissue and has undertaken to fully subscribe for its entitlement of 27.6%.The rights issue is underwritten by Citigroup, Goldman Sachs, JPMorgan,Morgan Stanley and UBS.Offer information statement will be dispatched and trading of "nil-paid"rights will commence on 6 Jan 09. The rights shares are expected tocommence trading on 2 Feb 09.Rights issue provides resilience to weather the financial storm. The rightsissue will strengthen DBS' balance sheet and allows the bank to weather thefinancial storm even if we go through a protracted recession. Tier-1 CARwill improve from 9.7% to 11.8%. If we exclude qualifying preferred andhybrid instruments, core tier-1 CAR will improve from 7.8% to 9.9%.Management highlighted that organic growth remains priority and the capitalraising was not intended to fund M&
Want to be redirected immediately?
Register yourself at Ping.sg to get rid of this page and also to get your read counted as Pong.