Funds short Metro Bank but market confident on rights issue

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By Sam Kerr
04 Mar 2019

Metro Bank has come under pressure from investors building short positions against it in recent days, but sources are still confident in its chances of executing a successful rights issue.

Short positions in Metro Bank have grown substantially following its announcement on February 26 that it had secured a standby underwriting agreement for a £350m cash call from RBC Capital Markets, Jefferies, and Keefe, Bruyette & Woods.

The announcement of a dilutive rights issue followed a revelation ...

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