After less than a fifth of Barclays existing shareholders participated in its £4.5bn capital-raising issue, The Qatar Investment Authority has become the banks largest investor.

On Friday Barclays said that 19 percent of existing shareholders had taken up their rights in the ‘claw-back’ issue. The bank had conditionally pre-placed shares with around 20 institutional investors as well the QIA and Challenger, a Qatari fund.

Existing shareholders, The China Development Bank and Singapore’s Temasek, were also part of the underwriting group.

The pre-placed shares were offered to existing shareholders to allow them to retain their proportional shareholders in Barclays. However, 81 percent opted not to exercise this right, and the shareholding will now be diluted. A 9 percent discount to the existing share price, the offer was placed at 282p a share at the time of the announcement.

Even though shares in Barclays rallied this week as the deadline approached, they dropped below the offer price last week. Shareholders enthusiasm to participate in the capital raising was likely affected by the recent weakness in the price of the shares. Barclay’s shares opened 2.8 percent lower at 282.6p amid general weakness in UK financial stocks.

Next week, further details on the extent of the dilution of existing shareholders will be revealed as it has not yet been quantified. Barclays did confirm that QIA would become the single biggest shareholder, with around 6 percent. Other investors that were involved in the pre-placement included Japan’s Sumitomo Mitsui Financial Group, which now owns 2.1 percent, and Challenger, an investment vehicle controlled by the family of the Qatari prime minister, owning a little under 2 percent.

China Development Bank retains its near 3 percent of Barclays, while Temasek has raised its interest from 2 percent to between 2.5 and 3 percent.

The banks new shares will start trading from Tuesday, and the listing of the new American depository Receipts on the New York Stock Exchange is expected on the same day.