Credit Suisse Raises $1.29 Billion From Capital Increase
November 23 2015 - 2:05AM
Dow Jones News
By John Revill
ZURICH--Credit Suisse Group AG (CS) on Monday said it had raised
1.32 billion Swiss francs ($1.29 billion) after completing the
first phase of its 6 billion francs capital increase.
The Zurich-based bank has issued 58 million new registered
shares in a private placement to qualified investors, increasing
the number of Credit Suisse shares in circulation to 1.69 billion.
The shares, which had a purchase price of CHF22.75 each, are listed
and admitted for trading on the Swiss exchange from Monday.
Credit Suisse shares closed on Friday at CHF22.16.
A second capital increase has been previously announced for
existing Credit Suisse shareholders to buy up to 261 million new
shares. Credit Suisse said it expects gross proceeds from this
offering of up to CHF4.7 billion.
Both capital increases were approved by shareholders at an
extraordinary general meeting last week. They are part of an
overhaul of Credit Suisse's business by new Chief Executive Tidjane
Thiam and are intended to bolster the bank's capital position.
-Write to John Revill at john.revill@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
November 23, 2015 01:50 ET (06:50 GMT)
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