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UK broker TP ICAP raises $430 million from rights issue

(Reuters) - British broker TP ICAP Plc said on Wednesday it raised roughly 310 million pounds ($430.25 million) from a rights issue, aimed at funding the bulk of the cost of its purchase of U.S. share trading platform Liquidnet.

The company said shareholders had subscribed to 98.3% of shares on offer at a price of 140 pence per share.

($1 = 0.7205 pounds)

(Reporting by Pushkala Aripaka in Bengaluru; Editing by Rashmi Aich)