This is quite a move by one the largest Swiss banks and Saudi Arabia!
The Swiss bank got into some trouble lately. It also announced to downsize its investment banking.
"Credit Suisse said Thursday it intends to raise capital worth four billion Swiss francs ($4 billion) as part of a strategic overhaul of Switzerland's second biggest bank.
"Credit Suisse has today announced its intention to raise capital with gross proceeds of ~four billion Swiss francs through the issuance of new shares to qualified investors, including Saudi National Bank, which has committed to invest up to 1.5 billion Swiss francs to achieve a shareholding of up to 9.9 percent," the bank said in a statement."
No comments:
Post a Comment