Mar
19

Deutsche Bank Seeks $8.6 Billion Selling Shares at 35% Discount

By
  • Offering stock at 11.65 euros is in-line with earlier guidance
  • The environment for a sale ‘is almost perfect,’ analyst says

Deutsche Bank AG said it will raise 8 billion euros ($8.6 billion) by selling stock at a 35 percent discount to last week’s closing price as Germany’s largest lender seeks to shore up its finances and boost growth.

The company will issue 687.5 million new shares at 11.65 euros apiece, it said in a statement Sunday, in-line with the firm’s March 5 announcement on the planned sale. The offer compares with the stock’s closing price of 17.86 euros on Friday, and is almost 41 percent lower than where the stock traded when Bloomberg first reported that the bank was weighing a capital raising. Existing investors will be able to acquire one new share for each two they now hold…

Deutsche Bank Seeks $8.6 Billion Selling Shares at 35% Discount

Share
Categories : Uncategorized

Leave a Reply

You must be logged in to post a comment.