May 13, 2019 / 6:07 AM / 4 months ago

BRIEF-Metro Bank Says 350 Mln Stg Equity Raise 'Well Advanced'

May 13 (Reuters) - Metro Bank PLC:

* STATEMENT RE PRESS SPECULATION

* SAYS METRO BANK’S C. £350 MILLION GROWTH EQUITY RAISE IS WELL ADVANCED

* SAYS HAS COMMENCED FINAL DISCUSSIONS WITH EXISTING SHAREHOLDERS AND NEW INVESTORS, AND FEEDBACK CONTINUES TO BE POSITIVE.

* SAYS IS EXPECTED TO BE BY WAY OF A PLACING SUBJECT TO SHAREHOLDER APPROVAL

* SAYS COMPANY INTENDS TO RESPECT PRINCIPLES OF PRE-EMPTION AS FAR AS PRACTICABLE VIA ALLOCATION PROCESS

* SAYS EQUITY RAISE WILL BE COMPLETED (SUBJECT TO APPROVALS) BY END OF Q2 2019 Source text for Eikon: Further company coverage: (Reporting By Simon Jessop)

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