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Metro Bank placing raises £277.9m

26 July 2017 08:05

Metro Bank (MTRO) has completed a placing of 8,020,000 shares, raising total gross proceeds of approximately £277.9 million for the company.

Vernon W. Hill, II, chairman and founder of Metro Bank, said the transaction secures fresh capital which will allow the momentum in growth to continue.

Craig Donaldson, chief executive officer, added: "The transaction was significantly oversubscribed at the market price and demonstrates shareholders' conviction in Metro Bank's superior banking experience for retail, business and private banking customers."

At 8:05am: (LON:MTRO) Metro Bank PLC share price was +95p at 3560p

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