The major bank announced on Thursday evening that it will receive a total of CHF 2.24 billion, or even slightly more, as planned as part of Credit Suisse’s capital increase.
According to CS, CS shareholders subscribed for CHF 873 million out of a total of 889 million newly issued shares. They can be traded on the Swiss stock exchange from Friday. This left only 16.4 million new shares still being sought in the market.
CS share rose almost 3 percent after the exchange opened on Friday. The 3 franc limit was again broken and another collapse apparently averted. However, there is still a 65 percent minus in price performance since the beginning of this year.
CS CEO Ulrich Körner can breathe a sigh of relief. It sees the successful completion of the capital increase as an “important milestone” for the “new” Credit Suisse. The Bank has made significant progress in the implementation of strategic measures in recent weeks.
Now that needs to be reflected in the Credit Suisse share price. (euro)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
