HBOS’S 2m private shareholders will be offered a free dealing service as part of the bank’s £4bn rights issue to raise capital and strengthen its balance sheet.

The bank is making the service available for retail investors who do not wish to take up their rights, as selling their entitlements tends to be notoriously complex for private shareholders. HBOS has more retail investors than any other institution in the UK, a legacy from former building society Halifax.

Daily Telegraph