Deutsche Bank Completes Share Sale to Raise Capital Level

Deutsche Bank AG (DBK), Europe’s largest investment bank, concluded an 8.5 billion-euro ($11.6 billion) share sale to raise equity.

Investors exercised 99.1 percent of their subscription rights in the sale of 299.8 million shares at 22.50 euros a piece, Frankfurt-based Deutsche Bank said in an e-mailed statement today. The remaining shares will be sold on the market, the bank said.

The bank also raised 1.75 billion euros last month selling stock to an investment vehicle of Qatar’s former prime minister, Sheikh Hamad bin Jassim bin Jabr Al Thani.

Deutsche Bank’s common equity Tier 1 ratio, a key measure of financial strength which stood at 9.5 percent on March 31, would have been 12 percent on that date if it reflected the capital raised in the share sale, the company said.

That would have made the company the third-best capitalized of 17 major global banks tracked by Bloomberg Industries, rather than the second-worst capitalized. UBS AG (UBSN) and Nomura Holdings Inc. (8604) had higher ratios on that date, data compiled by Bloomberg Industries show.

To contact the reporter on this story: Nicholas Comfort in Frankfurt at ncomfort1@bloomberg.net

To contact the editors responsible for this story: Frank Connelly at fconnelly@bloomberg.net Cindy Roberts

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