The final take-up of HSBC’s fully underwritten rights issue to raise £12.5 billion ($17.7 billion) is due to be announced on April 8. It would be interesting to know what the take-up was like among HSBC’s own employees.
Last month, at the announcement of the deal, chairman Stephen Green explained how cheerfully the bank’s own senior executives were looking forward to subscribing to their entitlements under the five-for-12 deal, the third-largest rights issue ever.
The discount on the rights issue was announced at the outset – a rather macho gesture from HSBC – at a hefty 47.5%
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