Lloyds will announce within days a controversial £23 billion fundraising that will bolster its balance sheet and finally repair the damage caused by its disastrous takeover of rival HBOS.
The fundraising, being finalised this weekend, will be one of the biggest seen in London.
The bank will ask shareholders to inject about £12 billion through a rights issue. Taxpayers, who own 43% of Lloyds, will have to cough up about £5 billion.
via Lloyds seeks £23bn to exit state scheme – Times Online . (Emphasis mine.)