Insurer is raising £775m to improve capital position
RSA will kick off its £775m rights issue this week, according to reports.
The cash call to investors will be offered at a discount of 40% to 50% of the insurer’s share price to ensure investor support, reports The Times.
The rights issue will improve RSA’s capital position after a series of profit warnings.
Group chief executive Stephen Hester said last month that the rights issue would be launched in March and completed by Easter.