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Low HBOS shares take-up

The low take-up of HBOS shares is the worst corporate fundraising exercise since BP tried to raise £7bn after the stock market crash of 1987.

HBOS's attempt was launched in April when shares were was at the 500p mark. Shareholders were offered two shares at the price of 275p for every five held.

Shares in the company have since fallen sharply amid fears of further major credit-crunch related losses.

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