Deutsche Bank Seeks $6.5 Billion as Jain Reverses Course
This article is for subscribers only.
Deutsche Bank AG, continental Europe’s biggest bank, is raising 5 billion euros ($6.5 billion) in capital, three months after co-Chief Executive Officer Anshu Jain said a share sale wasn’t in investors’ interests.
The company issued 2.96 billion euros of stock at 32.90 euros apiece today, exceeding an initial goal of 2.8 billion euros, to raise part of the funds, the Frankfurt-based lender said in an e-mailed statement. Deutsche Bank’s shares surged as much as 8.5 percent, the biggest rise since August.