Shares in Société Générale slipped nearly 3% this morning as it made public the terms of its €5.5bn ($8bn) rescue rights issue, despite the French bank’s announcement that last year’s profits will be higher than initially feared after the discovery of a multi-billion euro trading fraud last month.

SG this morning published the terms of its rights offering, which will have a €47.5 subscription price, representing a 39% discount to the bank’s €77.72 closing price on Friday. Shares in the bank fell to €75.6 by 09:15 GMT today.