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StanChart set to launch £5bn rights issue

Standard Chartered is poised to launch a rights issue to raise £5bn-£7bn ($7.9bn-$11bn) in an effort to buttress itself from the impact of new global capital rules.

The UK-based emerging markets bank could announce the plan as early as this week, according to people close to the cash call.

Temasek, the Singapore state investment agency that owns just over 19 per cent of StanChart, is understood to be planning to take up its rights in full in order to avoid a dilution of its shareholding.

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