Publications
Partners
London - The Standard Chartered bank is asking its shareholders to raise nearly $5.2bn in a rights issue.
The bank said Wednesday that it needs the money to meet new capital requirements and keep the company positioned to grow.
Standard Chartered's chief executive, Peter Sands, says the bank sees opportunities to grow in Asia, Africa and the Middle East. But to take those opportunities, the bank says it needs to bolster its capital to be sure that it conforms to the so-called Basel III standards.
The bank said Wednesday that it needs the money to meet new capital requirements and keep the company positioned to grow.
Standard Chartered's chief executive, Peter Sands, says the bank sees opportunities to grow in Asia, Africa and the Middle East. But to take those opportunities, the bank says it needs to bolster its capital to be sure that it conforms to the so-called Basel III standards.
