Qataris are now Barclays' largest shareholders, after the majority of existing investors snubbed the bank's £4.5 billion cash call. New Asian and Middle East investor now own 16 per cent of Britian's third largest bank.

The Qatar Investment Authority (QIA) and Challenger, an offshore investment vehicle set up by Qatar's Prime Minister to invest family wealth, own a combined stake of almost 8 per cent in the British bank following the capital raising.

Barclays chose to raise cash from strategic investors after watching the share prices of rivals HBOS, Royal Bank of Scotland (RBS) and Bradford & Bingley fluctuate wildly during their rights issues.

Sumitomo Mitsui Banking Corporation, the Japanese bank, agreed to pay £500 million for a guaranteed 2.1 per cent stake in the bank. The QIA, Challenger, China Development Bank (CDB) and Temasek, the Singaporean wealth fund, said that they would take up whatever was left over from the remaining £4 billion worth of stock after existing shareholders were given an opportunity to buy in.

Shareholders took up just 19 per cent of the 1.5 billion new shares on offer. As a result, the QIA will hold 6 per cent of Barclays and Challenger just under 2 per cent. CDB, which was already a shareholder in Barclays, will retain its 3.1 per cent share in the bank and Temasek, the Singaporean wealth fund, will take its stake from about 2 per cent to between 2.5 per cent and 3 per cent.

Shareholders were offered 3 new shares at 282p each for every 14 existing shares. But take-up of Barclays' offer had been expected to be low because the company's share price has lagged the offer price since it was announced . Yesterday the stock closed at 2 90.5p after a rally in the bank sector.

It is the second time Barclays has raised cash from strategic investors. CDB and Temasek first invested in the bank last year, when Barclays needed extra money to fund its takeover battle with RBS for ABN Amro.

Barclays shares were up to 287p at 8.24am.

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