Lloyds’ £13.5bn cash call sees 95.3% take-up

Lloyds Banking Group announced on Monday that its 13.5 billion pounds cash call had been a success after shareholders took up more than 95 per cent of the offered shares.

Lloyds had provided its existing shareholders with an opportunity to buy 1.34 shares at a price of 37 pence against each share they had. Shares in Lloyds closed at 56 pence a share on Friday.

The offer ended at 11am on Friday.

Speaking on the issue, Group’s CEO Eric Daniels said, “I would like to thank our shareholders for their considerable support for our capital raising programme.”

The recent cash call was a part of Lloyds’ plan to raise 22.5 billion pounds to strengthen its financial position.

Lloyds has been making efforts to escape government’s asset protection scheme by repaying the money that it received at the peak of economic downturn in 2008. The Government own about 43 per cent of the lender.