Shares of UK’s Metro Bank were suspended twice on Thursday after plunging more than 25%. The suspensions were triggered by the London Stock Exchange’s circuit breaker mechanisms due to the volatile drop. The bank is reportedly trying to raise £600 million ($727 million) in debt and equity. Metro Bank has lost around two-thirds of its value since February and currently has a market cap of less than £100 million. The bank is considering ways to enhance its capital resources, with a focus on a £350 million bond due to mature in October 2025.
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