HomeBusinessCredit Suisse reveals $4 billion fundraising strategy.

Credit Suisse reveals $4 billion fundraising strategy.

Published on

spot_img
  • Credit Suisse announced on Monday its proposal to seek 4 billion Swiss francs ($4.01 billion) from investors to help it overcome its worst crisis in 166 years.
  • Switzerland’s second-largest lender is seeking cash to slash thousands of jobs and change its focus from investment banking to wealth management.
  • It had to freeze $10 billion in supply chain finance funds tied to bankrupt British financier Greensill after a series of scandals and losses, including a $5.5 billion loss from Archegos’ collapse.
  • New and current shareholders can acquire shares from the bank.
  • It said new investors will acquire 462 million new shares at 3.82 Swiss francs ($3.83), 94 percent of the volume weighted average price of Credit Suisse shares on Oct. 27 and 28, raising 1.76 billion Swiss francs.

Latest articles

Paytm users may take up to 6 months to shift to other service providers

Paytm is looking to migrate all existing customers to another payment service provider (PSP)...

Amazon Prepping Up For Budget-Friendly, Unbranded Fashion Route To Take On Meesho

Amazon has launched a new store called Bazaar on its platform, allowing sellers to...

Aakash Education post Rs 330 crore profit in FY23

Aakash Education, owned by BYJU’S, recorded a profit of INR 330 crore in FY23,...

AI Model Backed by Mukesh Ambani to Launch in March

A consortium backed by Mukesh Ambani’s Reliance Industries Ltd. and India’s top engineering schools...

More like this

Paytm users may take up to 6 months to shift to other service providers

Paytm is looking to migrate all existing customers to another payment service provider (PSP)...

Amazon Prepping Up For Budget-Friendly, Unbranded Fashion Route To Take On Meesho

Amazon has launched a new store called Bazaar on its platform, allowing sellers to...

Aakash Education post Rs 330 crore profit in FY23

Aakash Education, owned by BYJU’S, recorded a profit of INR 330 crore in FY23,...