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StanChart raises US$5.1b as 97% exercise rights offer

BILL WINTERS: Shareholders endorse the CEO's plan for rights issue and job cuts to restore the bank's profitability


STANDARD Chartered plc raised about US$5.1 billion after 96.8 per cent of the bank's shareholders exercised their rights in a share sale on Friday, signalling confidence in chief executive officer Bill Winters's strategy to turn around the Asia-focused lender.

The shares...

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