HSBC investors jumped at the chance to put more money into the UK-based bank, buying most of the 5 billion shares the bank put on the market.
The bank said Sunday it sold 4.89 billion shares, or 96.6 percent of the total offered. An additional 172.7 million shares will be sold on Monday.
Demand was expected to be high, with expectations of a greater than 90 percent uptake as of Friday, according to Reuters, citing people familiar with the matter.
HSBC’s offering strengthens the bank’s balance sheet, raising its capital ratio by 150 basis points. Another measure of bank stability, its core equity tier 1 ratio, rose to 8.5 percent. Its Tier 1 ratio was up to 8.9 percent.