By Anthony O. Goriainoff

 

Barclays PLC said Thursday that investors submitted claims worth $9.7 billion under the rescission offer made following the overselling of securities in the U.S., of which $7.7 billion were validly submitted and not withdrawn.

The U.K. bank sold billions of dollars in securities more than allowed under a plan it registered with U.S. regulators, and launched the offer on Aug. 1 to give investors the chance to sell up to $17.7 million worth of securities.

Barclays said Thursday that it was evaluating the financial impact of the rescission offer--registered by its wholly owned subsidiary BBPLC--and would provide an update in due course.

"Claims submitted by other investors, through the rescission offer online portal operated by Accenture under BBPLC's direction, are currently under review and valid claims will be settled as soon as practicable," the bank said.

Shares at 1323 GMT were up 0.58 pence, or 0.3%, at 170.48 pence.

 

Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com

 

(END) Dow Jones Newswires

September 15, 2022 09:53 ET (13:53 GMT)

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