News outlets including the Financial Times reported Monday that the company is finalizing plans to sell up to £4 billion ($7.9 billion) in new shares. The Financial Times said the bank may announce the sale, together with write-downs of about £3 billion, before its annual shareholders' meeting Tuesday. An HBOS spokesman wouldn't comment to The Deal.
Last week, Royal Bank of Scotland Group plc announced plans to raise £12 billion through share sale and additional capital through a disposal of its insurance business. - Laura Board
Edinburgh, Scotland-based lender HBOS plc looks set to become the latest British bank to announce a multibillion pound share sale. 
