Metro Bank equity raise update triggers price drop

The price of shares in FTSE 250 financial services firm Metro Bank (LON:MTRO) has dropped by 7.14% to 495.40p (as of 15:30 BST) after it confirmed press speculation that it was in advanced discussions to raise an additional £350 million in equity. The firm company said that it is in final talks with existing shareholders and new investors and that feedback has been positive.

Further information will be made available to the markets in due course.