RSA's Hester reportedly eyeing £350m share placing
Provider needs to raise cash following Ireland accounting issues.
RSA is looking to raise up to £350m through a share placing, according to reports.
The Financial Times has stated that Stephen Hester, recently appointed as chairman at RSA, has approached institutional investors to garner support for this approach.
The insurer needs to raise hundreds of millions of pounds to remedy a black hole caused by accounting issues in its Irish business, which was revealed in the final quarter of 2013.
Sources have claimed that Hester has made an “emergency cash call”
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