Credit Suisse Unveils Plans To Raise $6.3 Billion Fresh Capital

Credit Suisse announced plans on Wednesday to raise SFr6.05 billion ($6.3 billion) fresh capital and cut costs, as the Swiss bank recently delivered a disappointing set of quarterly results.

The bank also announced that it would restructure its investment bank significantly to trim the amount of capital allocated to the business.

Credit Suisse to launch $6.3billion fresh capital issue

The Zurich-based bank announced Wednesday that it will sell 1.35 billion francs ($1.4 billion) of stock to select shareholders at a price of 5.5% below the bank’s average price in Wednesday’s trading. The Swiss bank also indicated that...