Barclays PLC has announced to the stock exchange its intention to raise approximately £5.8 billion through rights issue.
The issue will be for one New Ordinary Share for every four Existing Ordinary Shares at an Issue Price of 185 pence per New Ordinary Share.
The plan is to reduce the hole in its capital adequacy provision, which at the end of June was calculated to be £12.8 billion.
The Prudential Regulation Authority wants all banks to hit a 3% leverage ratio target by June 2014.
Barclays has also set aside a further £1.35 billion for PPI misselling costs and £650m for interest rate hedging compensation.
