London  - Bradford and Bingley, one of Britain's smaller mortgage lenders, Wednesday announced it would ask shareholders to bolster its finances by 300 million pounds (600 million dollars).

The rights issue, which will see shares offered at a 48-per cent discount, follows similar moves by larger banking groups Royal Bank of Scotland and Halifax Bank of Scotland.

Bradford & Bingley denied as recently as last month that it was planning to carry out a cash call. However, it said today that the move would reinforce its position as one of Britain's "better capitalized" banks. (dpa)