DBS S$4bn rights issue oversubscribed

21 Jan 2009

DBS Group Holdings was set to announce the results of its S$4bn rights issue on Wednesday evening after bankers said the deal had closed oversubscribed.

The offer closed on Tuesday, and bankers said orders from existing investors had left the deal 110% covered. DBS was expected to confirm the success of the deal after close of trading on Wednesday, and quickly won praise for moving quickly to shore up its capital.

“DBS’s timing ...

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