Nearly 97 percent of HSBC rights issue taken up - BusinessWeek

Just in time to serve as a perfect example of what we do in class is relevant, HSBC announced it had completed a rights issue.(A rights issue is a way of selling new equity by giving existing shareholders the right to buy new shares at a reduced price. These rights are generally transferable which means they can be sold to someone else who will buy the new shares.)From BusinessWeek: "