Credit Suisse offers 889 mln shares to existing investors in $4 bln capital hike – Reuters

Credit Suisse offers 889 mln shares to existing investors in $4 bln capital hike – Reuters

ZURICH, Nov 24 (Reuters) - Credit Suisse (CSGN.S) has made 889 million new shares available to existing investors at 2.52 Swiss francs ($2.67) per share, the bank said on Thursday, confirming the final terms of its 4 billion franc capital hike.

The capital increase, which was approved by investors on Wednesday, is intended to fund the embattled bank's turnaround plan, an attempt to recover from the biggest crisis in its 166-year history.

The share issue is expected to raise roughly 2.24 billion Swiss francs, Credit Suisse said.