Credit Suisse issues 462 million shares to existing investors in $4 billion capital hike By Reuters


© Reuters. FILE PHOTO: The logo of Swiss bank Credit Suisse is seen at its headquarters in Zurich, Switzerland March 24, 2021. REUTERS/Arnd Wiegmann/File Photo

ZURICH (Reuters) – Credit Suisse has issued 462 million new shares to existing investors at 3.82 Swiss francs ($4.05) per share, the bank said on Thursday, outlining details of its 4 billion franc capital hike.

The capital increase, which was approved by investors on Wednesday, is intended to fund the embattled bank’s turnaround plan as it recovers from a series of scandals and losses.

($1 = 0.9431 Swiss francs)