British Petroleum plans to allocate roughly half...

British Petroleum plans to allocate roughly half of October’s largest share offering to British financial institutions and foreign investors. However, the oil giant said it would restrict that allocation if demand from the British public and existing shareholders warrants it. The offering is expected to raise more than 7.5 billion pounds, or around $12 billion (U.S.) Applications to buy are due Oct. 28, and allocations will be announced Oct. 30. Trading in the new shares will begin later that same day.