Standard Chartered PLC (STAN.LN) shareholders subscribed to 98.53% of its GBP3.26 billion rights issue, the U.K.-based lender said in a statement Monday.

The Asia-focused bank said it received valid acceptances for 256.69 million of the 260.5 million shares offered to shareholders.

Joint global bookrunners JPMorgan Cazenove, Goldman Sachs International, UBS Investment Bank and Standard Chartered Securities (Hong Kong) Ltd. will seek buyers for the remaining 1.47%, or 3.84 million shares, the statement said.

In October, Standard Chartered announced plans to raise around GBP3.26 billion in a rights issue to boost its capital position as new global capital rules take effect, a move analysts said could be followed by global peers.

The London- and Hong Kong-listed bank plans to offer one share for every eight shares held at GBP12.80 each, or HK$156.82 a share for Hong Kong shareholders.

Standard Chartered's fund-raising plan comes as the Basel III capital rules begin to take effect. Under Basel III, internationally active banks will have to hold capital equal to at least 7% of their assets, much higher than current standards. Banks will also be required to hold a further countercyclical capital buffer of up to 2.5% and an additional potential buffer imposed on systematically important institutions.

-By Yvonne Lee, Dow Jones Newswires; 852-2802-7002; yvonne.lee@dowjones.com