RBS Royal Bank of Scotland Group PLC

LONDON--Royal Bank of Scotland Group PLC (RBS.LN) Thursday said it issued 21.3 million shares at a subscription price of 352.8114 pence each and sold them in the market, raising gross proceeds of GBP75 million ($116.2 million) and increasing the number of shares in circulation by 0.3%.

"The shares being issued are for the purposes of partly neutralizing the impact of 2015 coupon payments on discretionary hybrid capital from a Core Tier 1 capital perspective," RBS said.

The subscription price was determined by reference to the average market price during a period since the company's first quarter 2015 results on April 30, RBS said.

RBS shares closed up seven pence at 362 pence.

Write to Ed Ballard at ed.ballard@wsj.com

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