HSBC hails rights issue as huge success

Agence France-Presse

HSBC outlined its plan for a record British rights issue in March when it reported a 70 percent plunge in annual net profits.

It has refused British government financial assistance in contrast to rivals like Royal Bank of Scotland.

It offered investors five new shares at a heavily-discounted price of 254 pence each for every 12 they already own."I would like to thank shareholders for their support in this successful rights issue," Green said in a statement issued by the bank. "This underlines our determination that HSBC should maintain its signature financial strength which has served us so well."