Byline: Tessa Thorniley
AFTER months of nail-biting and wild swings in the share price, RoyalBank of Scotland's controversial [pounds sterling]12bn rights issue looks set for success.
Sources close to the FTSE 100 bank have said they would be 'extremelysurprised' if RBS failed to achieve less than 97pc shareholder support for thecapital raising which closes tomorrow.
Shares in RBS rose 4 3/4 p at 249 1/2 p - well ahead of the 200p price of therights shares - on comments the issue would succeed and after the stock wasupgraded by Morgan Stanley.
Investment banks UBS, Goldman Sachs and Merrill Lynch, underwriting the deal,are in line for fees of [pounds sterling]180m, plus a [pounds sterling]30m success fee.
Several key shareholders have been brought on board after a series of talkswith top tier investment houses. They include asset managers Och-Ziff and hedgefund Moore Capital.
Reports of stakebuilding by the activist investment group, The Children'sInvestment Fund are thought to be wide of the mark.
Optimism surrounding RBS's …