The London Stock Exchange Group (LSEG) announced Friday that it will raise 938 million pounds (1.56 billion U.S. dollars) via a rights issuance, in order to partly fund its 2.7 billion dollars takeover of United States-based firm Frank Russell Company.

The European oldest independent bourse said it will sell 74.3 million shares, accounting for 21.4 percent of the full capital after the offer, at a price of 1,295 pence, or 12.95 pounds each. Investors will receive three shares for every 11 rights they hold, said LSEG in a statement.

The group announced the proposed acquisition of the indices firm Frank Russell on June 26, 2014.

On the same day, LSEG released its quarterly financial outcome. In the three months to June, the group saw a 26 percent increase in pre-tax profits to 129.8 million pounds, and a 20 percent growth in revenue.

Xavier Rolet, Chief Executive of LSEG, commented in a statement that:" The proposed acquisition of Russell Investments will help to expand the global footprint of the group, particularly in the key U.S. market."

"This is a strong strategic acquisition for the group, which will accelerate development in one of our core strengths, intellectual property, and offers significant growth potential," added Rolet. (1 pound = 1.657 U.S. dollars) Endit

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