Credit Suisse shares drop 2% on reports of $3 billion share sale

Shares of Credit Suisse Group AG fell 2% in Zurich on Thursday after media reports the Swiss banking giant is considering a share sale to boost its capital buffers. Bloomberg said the company may issues shares representing 10% of its outstanding stock, equivalent to about 3.1 billion francs ($3.12 billion). The rights issue would happen instead of a separate listing of Credit Suisse’s Swiss banking division, according to the reports. A representative from Credit Suisse wasn’t immediately available to comment.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News

Leave a Reply