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Credit Suisse Shares Tumble On Report It May Sell $3 Billion In Stock

Thursday, March 23, 2017 9:34
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(Before It's News) / by Tyler Durden / Mar 23, 2017 9:56 AM

First Deutsche Bank, now Credit Suisse: according to Bloomberg, the second largest Swiss bank, is also preparing to take advantage of euphoric markets and is considering selling stock valued at more than 3 billion Swiss francs ($3 billion) as it seeks to boost capital levels. The news sent the stock sliding.

Bloomberg adds that Credit Suisse could seek to raise 10 percent of its market value, or about 3.1 billion francs, through an accelerated stock sale to institutions, which wouldn’t need investors to sign off. The lender is also speaking with advisers about raising as much as 5 billion francs, subject to shareholder approval, the people said.


The post Credit Suisse Shares Tumble On Report It May Sell $3 Billion In Stock appeared first on Silver For The People.


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