Sesha Utters

Blog of a Shiznit

Sudden Slump in Bradford&Bingley(B&B) Shares

Posted by seshdotcom on June 4, 2008

Shares in Bradford and Bingley( Bradford & Bingley International ) fell by 30% on Monday after the bank issued a Profits warning,agreed to a massive cash injection from a US Investment Fund and lost its Chief executive,B&B which deals in mortgages for investors buying homes to let out,saw its shares dive by 28.05% to 63.5 Pence in early trade,valuing it at 392 Million Pounds..The Cash Strapped bank,which has suffered from the property market slowdown,warned that increasing levels of unpaid debt had slashed Profits and Gains this year.Bradford and Bingley has also decided to sell more than a fifth of its capital to US Investement group TPG Capital(A private equity investment firm)for 179 Million Pounds…We all know that Bradford and Bingley was the Sponsor of the Tournament held between Srilanka and England in Srilanka and it also Sponsors Yorkshire County Cricket Club

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