Deals
Credit Suisse Said to Weigh Stock Sale Instead of Swiss IPO
- Lender could seek to raise over $3 billion; shares fall 2%
- Bank is speaking to advisers, sale could happen in first half
Credit Suisse Said Weighing Share Sale Over Swiss IPO
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Credit Suisse Group AG is considering selling stock valued at more than 3 billion Swiss francs ($3 billion) as an alternative to its longstanding plan to raise capital by listing part of its Swiss unit, according to people with knowledge of the matter.
Credit Suisse may sell new shares representing up to 10 percent of its outstanding stock, or about 3.1 billion francs, through an accelerated sale to money managers, which wouldn’t need investors to sign off, the people said, asking not to be named as the details aren’t public.