Challenger bank Metro Bank’s problems continues after being forced to cancel its bond sales earlier this week.
The bond sale was launched on Monday but closed within a day after the company failed to attract enough interest to achieve its sales target of between £2.0 and £2.50.
Afterwards, Metro Banks shares plummeted. Having begun the Monday at £2.72 per share, it has spent most of the week at £18 or under. By Friday morning it was trading as low as £1.56 per share. Although, it rose £1.9 by the end of the day. It is still a far cry from the £40 share price recorded in March 2018.
The failed bonds sale was another setback for the bank after an accounting error stripped hundreds of millions of its value in January.
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